Last night in the State of the Union, President Obama discussed policy for clean energy and big oil. The government should consider revisiting tax incentives for refineries.
Valuing refined products separately from crude oil and using refineries as independent profit centers is stupid. Above and beyond that, it is dangerous. Because some green-eyed accountants showed vertically-integrated refiners how their real profits came from crude oil (duh), they started to look at refineries as separate entities that need to show profits on their own. In the process, they are missing the point and they run the risk of marginalizing US crude. Read more
Natural gas prices were down 12.4 cents per million Btu yesterday, as trading continued to be wide and volatile on the Nymex. Prices traded across a 25-cent range. We had
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The oil complex was higher yesterday, with all segments of the market slightly higher. Heating oil prices were proportionately the highest or the strongest, but all three major contract groups
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The oil complex was higher yesterday, with all segments of the market slightly higher. Heating oil prices were proportionately the highest or the strongest, but all three major contract groups
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Natural gas prices were up 2.9 cents per million Btu yesterday, in a volatile trading session that saw prices trade inside a 14-cent range. Prices finished nearer the lower third
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This week’s DOE report was on balance bullish, showing the effects of refinery maintenance. Utilization declined, and refined products stocks dropped, while crude oil inventories increased. That is a trend
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