Oil Markets Wake from Complacency: Conflict in Iraq

This week’s Energy Market Situation covers:

  1. Crude oil prices explode
  2. Total commercial stocks of crude oil and products reach 1.1 billion barrels—a level not seen since November, 2013.
  3. Cushing, Oklahoma crude oil stocks continue to drain.
  4. Natural gas injections step up their pace.

 

Al pic 2009_cropped

Sincerely,
Alan Levine
Chairman, Powerhouse

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Table covers crude oil and principal products.  Other products, including residual fuel oil and “other oils” are not shown, and changes in the stocks of these products are reflected in “Total Petroleum Products.” Statistics Source: Energy Information Administration “Weekly Petroleum Status Report” available at www.eia.doe.gov