Crude Oil
10 responses | 1 like
Started by Jim_M - Dec. 18, 2018, 11:53 a.m.

Oil producers are in a tough spot.  The US is setting records on a seemingly daily basis.  OPEC is losing control over it's partners.  Russia is also setting output records.  Yet, they cut their own throats by over producing.

They would make far more money pumping 75% of their current levels if prices doubled, which they probably would.

All over losing some market share.  It will be interesting watching it all play out.  

Re: Crude Oil
By metmike - Dec. 18, 2018, 1:01 p.m.
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Thanks jim. Liquid energies having another bad day!

Crude 10 year price charts below.  

Crude 3 month chart  WOW!!!


Crude1year chart below


Crude 5 year chart below


Crude10 year chart below


By metmike - Dec. 18, 2018, 1:01 p.m.
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Heating oil 10 year price charts

Heating oil 3 months-WOW!


Heating oil 1 year chart below-upside breakout


Heating oil 5 year chart below-upside breakout


Heating oil 10 year chart below           

By metmike - Dec. 18, 2018, 1:02 p.m.
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Unleaded Gasoline Price Charts: 

3 month       WOW!!          


1 Year                


5 year........are we headed back to the highs?


10 Year                

By metmike - Dec. 18, 2018, 1:02 p.m.
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Here are the gas prices at the pump. They SHOULD HAVE dropped lower than this!!!

The National Gas Price Heat Map from GasBuddy:

By metmike - Dec. 18, 2018, 1:03 p.m.
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Weekly US ending stocks of crude oil. Peaked in March 2017, then bottomed out on September 14th 2018, at the lowest in 3.5 years and had been increasing until  11-23 but plunged 2 weeks ago and fell a tad last week but still +37 million above the Sept low.



Weekly ending stocks for unleaded gasoline. Barely peaked in Feb 2017. Have not changed a great deal in recent months.




Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast). Peaked in Feb 2017. Currently the lowest for this time of year since 2014.


By Jim_M - Dec. 18, 2018, 2:34 p.m.
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Our gas prices are in the $1.80 range here in Akron, Ohio

By metmike - Dec. 18, 2018, 7:44 p.m.
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Wow, that's pretty cheap Jim.

We're over $2 here:

Here are the latest gas prices across the country:

Why are west coast gasoline prices higher?

The two main reasons are transportation and taxes. Part of the cost of gasoline is what it costs to take refined product and transport it to the end user. Below is a map of the main refineries and pipeline in North America.

You can see that the west coast has a much smaller amount of infrastructure than other parts of the map. As a result, more of your gasoline is refined in places that require it to be shipped by transportation.

The second reason is that the states on the West Coast have used fuel taxes more than the average.

If you add to that state requirements about how the gasoline is blended based on the various state environmental air quality and emissions standards, you can tweak the price again. The addition of MTBE or ethanol seasonally, further adds cost to a gallon.

Both coast tax their gasoline beyond the norm. Add to that in California they require 2 to 3 times as many fuel mixes as any other state which increases the cost again.

Re: Crude Oil
By bear - Dec. 18, 2018, 10:55 p.m.
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since the low in 16,  we have a left shoulder, then a head, now we need to bounce and work on the right shoulder.

By metmike - Dec. 22, 2018, 5:26 p.m.
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By metmike - Dec. 22, 2018, 5:28 p.m.
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Canada’s LNG Dream Just Turned Into A Nightmare

Conceding to U.S. LNG dominance

Going forward, Exxon’s recent withdraw throws more doubt on Canada’s ability to challenge the U.S. for market share in the Asia-Pacific region, which represents 72 percent of all global LNG demand with that demand projected to increase to 75 percent amid China’s increased gas and LNG usage as the country tries to reach a government mandate of 10 percent natural gas usage for power generation by 2020, with further earmarks set for 2030.

What do you think Wayne?