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Permian Basin drillers are boosting oil output as prices rise, lifting associated natural gas to nearly 7 billion cubic feet a day, about 8% of US supply. US natural gas prices have climbed above $3 per million British thermal units for the first time in 16 months, and a new Apache discovery is expected to add production from mid-2017.
Rising associated gas output from the Permian could cap US natural gas rallies by adding supply, which weighs on energy input costs for ethanol and DDGS. Higher crude prices from the same drilling activity can support vegetable oil and biofuel demand.
theglobeandmail.comCHRISTINE BUURMA, JONATHAN CRAWFORDOct 17, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
