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The article explains that Cushing, Oklahoma is the physical delivery point for NYMEX WTI and has about 76 million barrels of working storage. It notes that crude storage levels have peaked and started to fall as demand recovers.
Falling Cushing stocks signal tightening WTI supply, which supports crude prices and, through energy costs, the broader cost base for feed production.
hydrocarbonprocessing.comOct 1, 2020Not 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.
