Trending & Fitness

Cushing Oil Inventories Are Soaring Again

Adolfo Ledo Nass Venezuela
Óptica Los Andes se une al Black Friday con promociones especiales

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 20 hours 42.42 +0.52 +1.24% Brent Crude • 17 hours 44.96 +0.76 +1.72% Natural Gas • 20 hours 2.650 +0.058 +2.24% Mars US • 20 hours 42.82 +0.47 +1.11% Opec Basket • 3 days 43.12 +0.07 +0.16% Urals • 4 days 39.60 +0.00 +0.00% Louisiana Light • 3 days 42.77 -0.07 -0.16% Louisiana Light • 3 days 42.77 -0.07 -0.16% Bonny Light • 2 days 44.56 +0.71 +1.62% Mexican Basket • 3 days 39.43 -0.08 -0.20% Natural Gas • 20 hours 2.650 +0.058 +2.24% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 2 days 44.16 +0.04 +0.09% Murban • 2 days 44.72 +0.16 +0.36% Iran Heavy • 2 days 42.13 +0.53 +1.27% Basra Light • 2 days 47.24 +0.58 +1.24% Saharan Blend • 2 days 43.89 +0.55 +1.27% Bonny Light • 2 days 44.56 +0.71 +1.62% Bonny Light • 2 days 44.56 +0.71 +1.62% Girassol • 2 days 46.10 +0.78 +1.72% Opec Basket • 3 days 43.12 +0.07 +0.16% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 5 days 30.08 +0.61 +2.07% Western Canadian Select • 19 hours 31.00 -1.41 -4.35% Canadian Condensate • 1 day 40.90 -0.11 -0.27% Premium Synthetic • 1 day 42.30 -0.11 -0.26% Sweet Crude • 19 hours 37.00 -0.11 -0.30% Peace Sour • 19 hours 34.90 -0.11 -0.31% Peace Sour • 19 hours 34.90 -0.11 -0.31% Light Sour Blend • 19 hours 36.90 -0.11 -0.30% Syncrude Sweet Premium • 19 hours 37.50 -0.11 -0.29% Central Alberta • 19 hours 34.90 -0.11 -0.31% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 3 days 42.77 -0.07 -0.16% Domestic Swt. @ Cushing • 2 days 39.00 +0.25 +0.65% Giddings • 2 days 32.75 +0.25 +0.77% ANS West Coast • 5 days 43.46 -0.06 -0.14% West Texas Sour • 2 days 35.86 +0.09 +0.25% Eagle Ford • 2 days 39.81 +0.09 +0.23% Eagle Ford • 2 days 39.81 +0.09 +0.23% Oklahoma Sweet • 2 days 39.00 +0.25 +0.65% Kansas Common • 3 days 32.00 +0.00 +0.00% Buena Vista • 3 days 45.35 -0.13 -0.29% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 20 hours Renewed Lockdowns Threaten More Refinery Closures In Europe   1 day The EV Revolution Is Threatening Long-Term Oil Demand Growth 1 day China Looks To Buy Stake In A Major Iraqi Oilfield 2 days UAE Clarifies Stance On OPEC Membership 2 days Tesla Slammed In Consumer Reliability Report 2 days UK Renewable Giant Suffers Despite Green Energy Push 2 days The EV Boom Is Sending Battery Metals Into The Stratosphere 2 days Goldman Sets $2,300 Price Target For Gold In 2021 2 days China Buys Into Mexico’s Emerging Renewable Energy Sector 2 days A Big Week For Venezuela’s Oil Industry 2 days Total Bets Big On Libya’s Oil Industry 2 days Oil Search Ready To Restart Alaskan Crude Production 3 days Oil Crash Continues To Claim Bankruptcy Victims In U.S. Shale Patch 3 days OPEC+ Needs To Compensate 2.35 Million Bpd Oversupply 3 days Trump Administration Holds Its Last Offshore Oil Auction 3 days Oil Majors Look To Bolster Security In Nigeria Amid Protests 3 days Indigenous Group Pours C$1B Into Keystone XL 4 days Oil Prices Under Pressure After API Reports Crude Inventory Build 4 days India Urges Oil Firms To Consider Foreign Partners To Boost Production 4 days Exxon’s Deepest Guyana Oil Well Disappoints 4 days COVID-19 Takes Major Toll On Australian Oil & Gas Jobs 4 days Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028 4 days Tesla Stock Soars After S&P 500 Addition 5 days OPEC+ Meeting Concludes With Support For Cut Extension 5 days Sudan To Offer 27 Oil Concessions In Global Bidding Round 5 days Oil & Gas Discoveries Resilient In 2020 Despite Pandemic 5 days U.S. Natural Gas Stocks Close To Record-High At Refill Season End 5 days Michigan Order Enbridge To Shut Down Line 5 5 days Twitter Blocks Iran Oil Minister’s Account 8 days OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings 8 days Libya’s Oil Production Exceeds 1.2 Million Bpd 8 days The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash 8 days PDVSA Chief Goes to Russia To «Deepen Ties» 8 days Enbridge Gets More Permits For Line 3 9 days Fuel Demand Slump Speeds Up Refinery Closures 9 days Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster 9 days Energy Has Become Bargaining Chip In Brexit Talks 9 days Australia-China Spat Threatens LNG Deal 9 days African Oil Producers Face Slump In Production 9 days Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production 3 minutes War for Taiwan? 7 minutes How China Is Racing To Expand Its Global Energy Influence 10 minutes Is it time to talk about Hydrogen? 6 mins U.S. Presidential Elections Status – Electoral Votes 29 mins can Trump pardon himself? 16 hours CREO Syndicate – Ultrawealthy & Oil-igarchs Multi-Trillion Investments on Climate & Green 2 days Trucking Demand; Refrigerated Vaccine Distribution 2 days Renewables deprogramming 14 hours One drawback of an EV . . . . 2 days Is it true that Kamala Harris is a leftist or even a cryptocommunist? 3 days . 3 days Covid19 detected early 3 days San Francisco Imposes Natural Gas Ban Breaking News: Renewed Lockdowns Threaten More Refinery Closures In Europe  

Find us on:

Japanese Refiners Anticipate An Extension Of OPEC+ Oil Cuts As COVID-19 cases spike in…

American Deepwater Oil Exploration Isn’t Dead In a move that came…

Oil Majors Are Paying The Price For Investing In Renewables Markets are punishing big oil…

Home Energy Energy-General Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Share Facebook Twitter Google + Linkedin Reddit Premium Content Cushing Oil Inventories Are Soaring Again By Tsvetana Paraskova – Nov 21, 2020, 12:00 PM CST Join Our Community Crude oil inventories at the Cushing storage hub in Oklahoma are approaching the high levels seen in April when limited storage capacity amid crashing demand contributed to the plunge in WTI Crude prices into negative territory.  Cushing is the designated delivery point for NYMEX crude oil futures contracts, and rapidly dwindling spare capacity there spooked the oil market at the end of April and early May

Commercial stocks at Cushing rose to 61.6 million barrels in the week to November 13, according to the latest data from the weekly petroleum report of the Energy Information Administration (EIA). That’s up from 60.4 million barrels in stocks at the hub at the end of the previous week, and a 39.3-percent jump compared to the same week in 2019 when inventories at Cushing stood at 44.2 million barrels.  

The current stockpile at Cushing means that the hub is full to around 81 percent of its capacity of 76 million barrels, according to Bloomberg’s estimates

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 20 hours 42.42 +0.52 +1.24% Brent Crude • 17 hours 44.96 +0.76 +1.72% Natural Gas • 20 hours 2.650 +0.058 +2.24% Mars US • 20 hours 42.82 +0.47 +1.11% Opec Basket • 3 days 43.12 +0.07 +0.16% Urals • 4 days 39.60 +0.00 +0.00% Louisiana Light • 3 days 42.77 -0.07 -0.16% Louisiana Light • 3 days 42.77 -0.07 -0.16% Bonny Light • 2 days 44.56 +0.71 +1.62% Mexican Basket • 3 days 39.43 -0.08 -0.20% Natural Gas • 20 hours 2.650 +0.058 +2.24% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 2 days 44.16 +0.04 +0.09% Murban • 2 days 44.72 +0.16 +0.36% Iran Heavy • 2 days 42.13 +0.53 +1.27% Basra Light • 2 days 47.24 +0.58 +1.24% Saharan Blend • 2 days 43.89 +0.55 +1.27% Bonny Light • 2 days 44.56 +0.71 +1.62% Bonny Light • 2 days 44.56 +0.71 +1.62% Girassol • 2 days 46.10 +0.78 +1.72% Opec Basket • 3 days 43.12 +0.07 +0.16% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 5 days 30.08 +0.61 +2.07% Western Canadian Select • 19 hours 31.00 -1.41 -4.35% Canadian Condensate • 1 day 40.90 -0.11 -0.27% Premium Synthetic • 1 day 42.30 -0.11 -0.26% Sweet Crude • 19 hours 37.00 -0.11 -0.30% Peace Sour • 19 hours 34.90 -0.11 -0.31% Peace Sour • 19 hours 34.90 -0.11 -0.31% Light Sour Blend • 19 hours 36.90 -0.11 -0.30% Syncrude Sweet Premium • 19 hours 37.50 -0.11 -0.29% Central Alberta • 19 hours 34.90 -0.11 -0.31% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 3 days 42.77 -0.07 -0.16% Domestic Swt. @ Cushing • 2 days 39.00 +0.25 +0.65% Giddings • 2 days 32.75 +0.25 +0.77% ANS West Coast • 5 days 43.46 -0.06 -0.14% West Texas Sour • 2 days 35.86 +0.09 +0.25% Eagle Ford • 2 days 39.81 +0.09 +0.23% Eagle Ford • 2 days 39.81 +0.09 +0.23% Oklahoma Sweet • 2 days 39.00 +0.25 +0.65% Kansas Common • 3 days 32.00 +0.00 +0.00% Buena Vista • 3 days 45.35 -0.13 -0.29% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 20 hours Renewed Lockdowns Threaten More Refinery Closures In Europe   1 day The EV Revolution Is Threatening Long-Term Oil Demand Growth 1 day China Looks To Buy Stake In A Major Iraqi Oilfield 2 days UAE Clarifies Stance On OPEC Membership 2 days Tesla Slammed In Consumer Reliability Report 2 days UK Renewable Giant Suffers Despite Green Energy Push 2 days The EV Boom Is Sending Battery Metals Into The Stratosphere 2 days Goldman Sets $2,300 Price Target For Gold In 2021 2 days China Buys Into Mexico’s Emerging Renewable Energy Sector 2 days A Big Week For Venezuela’s Oil Industry 2 days Total Bets Big On Libya’s Oil Industry 2 days Oil Search Ready To Restart Alaskan Crude Production 3 days Oil Crash Continues To Claim Bankruptcy Victims In U.S. Shale Patch 3 days OPEC+ Needs To Compensate 2.35 Million Bpd Oversupply 3 days Trump Administration Holds Its Last Offshore Oil Auction 3 days Oil Majors Look To Bolster Security In Nigeria Amid Protests 3 days Indigenous Group Pours C$1B Into Keystone XL 4 days Oil Prices Under Pressure After API Reports Crude Inventory Build 4 days India Urges Oil Firms To Consider Foreign Partners To Boost Production 4 days Exxon’s Deepest Guyana Oil Well Disappoints 4 days COVID-19 Takes Major Toll On Australian Oil & Gas Jobs 4 days Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028 4 days Tesla Stock Soars After S&P 500 Addition 5 days OPEC+ Meeting Concludes With Support For Cut Extension 5 days Sudan To Offer 27 Oil Concessions In Global Bidding Round 5 days Oil & Gas Discoveries Resilient In 2020 Despite Pandemic 5 days U.S. Natural Gas Stocks Close To Record-High At Refill Season End 5 days Michigan Order Enbridge To Shut Down Line 5 5 days Twitter Blocks Iran Oil Minister’s Account 8 days OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings 8 days Libya’s Oil Production Exceeds 1.2 Million Bpd 8 days The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash 8 days PDVSA Chief Goes to Russia To «Deepen Ties» 8 days Enbridge Gets More Permits For Line 3 9 days Fuel Demand Slump Speeds Up Refinery Closures 9 days Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster 9 days Energy Has Become Bargaining Chip In Brexit Talks 9 days Australia-China Spat Threatens LNG Deal 9 days African Oil Producers Face Slump In Production 9 days Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production 3 minutes War for Taiwan? 7 minutes How China Is Racing To Expand Its Global Energy Influence 10 minutes Is it time to talk about Hydrogen? 6 mins U.S. Presidential Elections Status – Electoral Votes 29 mins can Trump pardon himself? 16 hours CREO Syndicate – Ultrawealthy & Oil-igarchs Multi-Trillion Investments on Climate & Green 2 days Trucking Demand; Refrigerated Vaccine Distribution 2 days Renewables deprogramming 14 hours One drawback of an EV . . . . 2 days Is it true that Kamala Harris is a leftist or even a cryptocommunist? 3 days . 3 days Covid19 detected early 3 days San Francisco Imposes Natural Gas Ban Breaking News: Renewed Lockdowns Threaten More Refinery Closures In Europe  

Find us on:

Japanese Refiners Anticipate An Extension Of OPEC+ Oil Cuts As COVID-19 cases spike in…

American Deepwater Oil Exploration Isn’t Dead In a move that came…

Oil Majors Are Paying The Price For Investing In Renewables Markets are punishing big oil…

Home Energy Energy-General Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Share Facebook Twitter Google + Linkedin Reddit Premium Content Cushing Oil Inventories Are Soaring Again By Tsvetana Paraskova – Nov 21, 2020, 12:00 PM CST Join Our Community Crude oil inventories at the Cushing storage hub in Oklahoma are approaching the high levels seen in April when limited storage capacity amid crashing demand contributed to the plunge in WTI Crude prices into negative territory.  Cushing is the designated delivery point for NYMEX crude oil futures contracts, and rapidly dwindling spare capacity there spooked the oil market at the end of April and early May

Commercial stocks at Cushing rose to 61.6 million barrels in the week to November 13, according to the latest data from the weekly petroleum report of the Energy Information Administration (EIA). That’s up from 60.4 million barrels in stocks at the hub at the end of the previous week, and a 39.3-percent jump compared to the same week in 2019 when inventories at Cushing stood at 44.2 million barrels.  

The current stockpile at Cushing means that the hub is full to around 81 percent of its capacity of 76 million barrels, according to Bloomberg’s estimates .

To compare, in the first week of May at the peak Cushing inventories this year, commercial crude oil inventories at the site exceeded 65 million barrels, which was 83 percent of the site’s working capacity , according to EIA data. Between early May and the last week of June, crude oil inventories at the storage hub had decreased to 45.6 million barrels, but they started rising again in July, weekly data from the EIA shows .

Related: Total Bets Big On Libya’s Oil Industry

Analysts do not expect a repeat of the April negative price of oil because trading and clearing houses put limits to retail traders’ bets after the crash, while exchange traded funds (ETFs) of oil spread the risks by limiting the piling of contracts into front-month months.  

Even without a new slump in prices because of storage limits, the near-term prospects for oil demand in the United States are not rosy as some states return to re-imposing restrictions and curfews as COVID-19 cases soar.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Why Iraq Isn’t Producing 10 Million Barrels Per Day Yet

Oil Prices Under Pressure As Oil And Gasoline Inventories Build

This Tiny Rich Nation Is Looking To Become A Hub For Space Mining Download The Free Oilprice App Today

Más de tips Femeninos