88.50 + 1.22 pre market, and as good as this is for wti, ng moving more.
I was surprised many names fell yesterday into the commodity strength..think it moves up rest of week.
Crude closing in on 90
Re: Crude closing in on 90
OilPrice.com
"Oil prices are set to continue their climb toward the $100 mark this week thanks to supply disruptions in Libya and expectations of a further U.S. inventory draw." < We still have not seen full impact of the Saudi Arabia export cuts on U.S. crude oil inventories.
Hurricane Disrupts Libyan Loadings. Battered by Hurricane Daniel for several days already, Libya has shut four oil ports – Ras Lanuf, Es Sider, Brega, and Zueitina - as state authorities kept oil infrastructure at maximum alert and mandated that workers restrict any movements between sites.
East Coast Braces for Distillate Scarcity. As two key refineries across the East Coast, Irving Oil’s St. John refinery and Delta’s (NYSE:DAL) Trainer refinery, are set to go down for prolonged maintenance from mid-September, NYH ULSD diesel prices rose by 8% already amidst stubbornly low inventories. < Possibility of diesel and home heating oil rationing increases.
"Oil prices are set to continue their climb toward the $100 mark this week thanks to supply disruptions in Libya and expectations of a further U.S. inventory draw." < We still have not seen full impact of the Saudi Arabia export cuts on U.S. crude oil inventories.
Hurricane Disrupts Libyan Loadings. Battered by Hurricane Daniel for several days already, Libya has shut four oil ports – Ras Lanuf, Es Sider, Brega, and Zueitina - as state authorities kept oil infrastructure at maximum alert and mandated that workers restrict any movements between sites.
East Coast Braces for Distillate Scarcity. As two key refineries across the East Coast, Irving Oil’s St. John refinery and Delta’s (NYSE:DAL) Trainer refinery, are set to go down for prolonged maintenance from mid-September, NYH ULSD diesel prices rose by 8% already amidst stubbornly low inventories. < Possibility of diesel and home heating oil rationing increases.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group