New Year…..same shizzle? Lil bit…not xactly. When the US Shale boom first ignited in the last decade, production growth was driving the bus and capital discipline was a big joke. Fast forward to today. The year 2023 saw the U.S. hit a record crude oil production level of over 13.2 million barrels per day—more than any other country […]
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Happy New Year! Time to tie those shoelaces, straighten your backs and get back to business. If you’re like us, you’re extremely excited about the possibilities that the New Year will bring. To that end, if you have any storage ideas germinating, we’re here to assist you – at no charge. U.S. crude oil closed out the year more […]
Once again, an activist investor (in other words: a bully with a bag of money), has appeared on the scene to disrupt the enterprise of a long standing integrated refining and marketing company. Last week, Elliott Investment Management unveiled a $1 billion stake in Phillips 66 and chirped about the company’s supposed underperformance. Their all too familiar strategy […]
In today’s episode we outline the current Gasoline market with our guest Guest David Ruisard of Argus. Dave is a current senior US Products Editor for Argus. In this Episode, Dave shares his thoughts on geographical arbs, Gulf Coast Gasoline outlook, and end of year dynamics.
What a difference a week makes. The institutional money and hedge fund lemmings pulled a Jimbo Fisher and headed for the exits as oil prices took the elevator down last week. Prices are down nearly 20% from their September zenith. Already there are fake news protests coming from the members of OPEC+. Obviously not happy with the direction, the […]
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Did you ever pour yourself an ice cold beer? Once it hits your lips, it’s so good. However sometimes you have to wait until the foam settles. Too much foam. Beer good. Foam bad. So much foam. Remember the episode of Seinfeld when everyone agreed that muffin tops were awesome but that the muffin stumps weren’t so great. Elaine spends the show trying […]
The U.S. Gulf Coast has recently witnessed a remarkable downturn in gasoline prices, marking the lowest points in 2023. Prompt CBOB values at $2.024/gal, trading at a 19.25cts/gal discount to the RBOB futures contract, reflecting new 2023 lows. This trend has spotlighted gasoline’s sharp inventory build in the latest months. Refineries are continuing […]
The energy industry was certainly served a platter of trick or treat this month with a couple of colossal mergers in the oil patch. First, ExxonMobil and Pioneer Natural Resources jointly announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is an all-stock transaction valued at $59.5 billion. Next, Chevron said “hold my beer” and last […]
Today on Tank Talk we dive into the Renewable fuel space. Our Guest on the show is Andrea Valerio President and CEO of Verbio North America. Andrea’s long career first started at ENI and eventually moved over to large trading commodity shops. In this Episode, Andrea explains the growth of Verbio and their proprietary technology. […]
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