Category Archives: Tank Blog

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Gasoline, Distillate, & Crude Market Spotlight on Inventory release day

As of today, July 24, 2024, the price of West Texas Intermediate (WTI) crude oil is experiencing a moderate increase. The current spot price is approximately $81.25 per barrel, down slightly by 0.22% from the previous day but up by 5.44% from the same time last year. This slight decline comes after a bullish report […]

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The Evolution of Midstream Asset Ownership: From MLPs to Private Equity and the Rise of Private Credit

The 2017 change in corporate tax rates from 35 to 21 percent had a direct effect on the ownership of midstream assets.  The Master Limited Partnership (MLP) structure no longer had the same competitive advantage when it came down to minimizing taxable earnings. As a result, some assets that were once deemed core and strategic to some […]

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Goldilocks Economy: Market Cheers Amid Lower Inflation and Jobless Claims, But Oil Prices Remain a Wild Card

Last week saw headline prices declining during the month for the first time in four years. Along with it, annual inflation fell below 3% for the first time in a year. Core inflation was better than forecast, coming in at 3.3% which was the lowest in three years.  Supporting this positive economic news was the fact that there […]

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A Tale of Two Economies: The Divergent Perspectives on Our Economic Health

How can some people say our economy is doing great while others say that it’s a disaster? How can something so simple be so paradoxical? Of course, we’re all entitled to our own opinions, but no one is entitled to their own facts. The jobless rate has now been at or below 4% for over 2 years, a streak […]

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Who Let the Bulls Out? Energy Markets Heat Up Amid Rising Oil Prices and Market Gains

Who let the bulls out? Woof woof. The days are getting shorter, but things aren’t getting any cooler – in our atmosphere or in the energy markets. For the week, both crude benchmarks were up about 3% after gaining about 4% last week. Brent ended the week at $85.24 a barrel and WTI crude settled at $80.73, gaining back […]

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From 1 to 5,000: Celebrating The Tank Tiger’s Milestone in Connecting Customers and Storage Facilities

To count from 1 to 5,000 would take you about twenty-three minutes. To connect 5,000 customers looking for storage with 5,000 storage facilities took The Tank Tiger a little over 9 years. We’re pleased to report that last week we reached that milestone and cemented the proof of concept that there is value in the terminal storage […]

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NY Harbor Shrinkage

When most people think about shrinkage, they think about George Costanza in the pool. However, there is a very serious shrinkage situation happening in the world of storage. Under the shadow of the lights of Yankee Stadium, slowly but surely, the amount of petroleum storage capacity that serves the NYMEX has been shrinking and the trend has […]

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OPEC+ Extends Oil Production Cuts to 2025: What It Means for U.S. Producers and the Global Market

Before you could say Jack Robinson, the ministers of OPEC+ wrapped up their short “meeting” on Sunday with a yallah and a tayyib and, to the surprise of no one, agreed to continue its oil production cuts into the year 2025.   There wasn’t even any time for dessert baklava. The next meeting isn’t until December, so there […]

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Unlocking the Hidden Value of Your Storage Lease: How The Tank Tiger Can Help You Strike Gold

You may be sitting on a gold mine. That’s right, if you have a term storage lease, it is quite possible that more value can be extracted from that lease if you turn around and sublease it to another party. Of course, you might think that even if you’re sitting on a gold mine, you still have […]

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From OPEC+ Lollipops to Market Haircuts: Navigating the Turbulent Waters of Oil Prices and Economic Signals

We could be going from the OPEC+ lollipop to a bad haircut. Oil prices suffered their greatest weekly loss in three months as concerns about stalled economic growth became more prominent.  Compounding this concern was a large build in inventories combined with increasing US crude production. The EIA reported a 4% drop in gasoline demand year over year. We […]

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