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Wisdom from the Downstream Wizard

Pacific Rim Refiners Won’t Wait Forever for Canadian Crude Oil

February 8, 2013 Pacific Rim refineries have the capacity for Canadian heavy crude oil, but the window for opportunity is narrow. Unless crude oil producers in Alberta can find a way to get their product to refiners in the Pacific Rim consistently, those refiners will start looking for heavy crude elsewhere. On Thursday, the University […]

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Refinery Turnarounds, Switch to Summer Blends and Market Speculation Driving Price Spike

February 5, 2013 The average price for retail gasoline in Los Angeles yesterday was $4.03, 23 cents higher than the price last Monday of $3.77. It’s typical this time of year for retail prices to rise, but this price spike is unique because prices have jumped so high so quickly. There are three factors driving […]

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Crude Oil Over Supply in the Mid Continent

January 8, 2013 We’re back in the New Year with an updated Bubble Map. Crude oil prices have gone up across the board since our last blog post on November 27. Differentials between WTI and most marker crudes have tightened, except for WCS. The WCS discount has deepened since before the holidays to $36 under […]

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Aftermath of the October Price Spike and the Latest Bubble Map

November 27, 2012 The price of gasoline in California has stabilized, a gallon of regular in Los Angeles today was $3.79, down $0.91 from the height of the spike on October 8th. And now the congressional investigations are heating up. At the California Senate hearing on the price spike held earlier this month, energy consultant […]

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2-for-1 Friday: Bubble Map and Gasoline Price Spike Update

November 15, 2012 The Bubble Map is back! Since we last checked in crude oil spot prices have fallen. The price of WTI has dropped $10 since the end of August to $85.45 on November 15th. The price differential between WTI and WCS has doubled to $32 under. Limited pipeline capacity is to blame for […]

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