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Wisdom from the Downstream Wizard

The Southern California Gas Price Spike

October 7, 2012 What happened in the spot market? Spot prices started to move up on refinery problems on 9/27. By Monday, October 1, the spot was up 30 cpg On that Monday, Exxon Mobil’s Torrance refinery lost power due to an equipment failure at Southern California Edison. Spot prices rose to 83 cpg to […]

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Brent and LLS Prices Off due to Increase in Crude Inventories

August 29, 2012 Gulf Coast crude differentials dropped this week due to a surprise bump in crude inventories. The price of WTI is down slightly from last week, closing at $96 on August 28th. The prices of Brent and Louisiana Light Sweet have dropped $3, to $17 and $15 over WTI respectively. While prices in […]

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Price Differentials Inside the Bubble Improve

August 8, 2012 Crude oil prices are up considerably since our last blog post. WTI closed at $94 on August 7th, up $6. The spreads between WTI and most coastal crudes remain relatively unchanged. However, the San Joaquin Valley Heavy differential has shrunk to $5 over WTI, down from $9 last week. Discounts in the […]

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Pipeline Disruption Creates Deep WCS Discount

August 1, 2012 WTI closed at $88 on July 31st, unchanged from our last blog post. The spreads between WTI and Brent, Alaska North Slope and San Joachin Valley Heavy are up. The Brent spread is up $2 from July 16, to $18. Discounts in the Mid Continent have widened again. Bakken’s discount is back […]

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July Update on the Mid Continent Bubble

July 16, 2012 Since our last blog post, crude oil prices have rebounded. WTI closed at $88 on July 16th, up $4 since we last checked in. LLS and Brent prices have also risen. The spread between LLS and WTI is up $7 from our last post, to $19 on July 16th. The spread between […]

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