Loading…
CME analysis says new US storage and pipeline infrastructure, plus the end of the crude export ban, will make the US a marginal global supplier. US output rose from 5.1 million b/d in 2009 to 8.81 million b/d in October 2016 after a March 2016 peak of 9.55 million b/d.
Gulf Coast terminals are being built to handle more export ships.
Easier US crude exports tie WTI more closely to global prices and can add supply that weighs on crude values. Energy and freight costs for feed inputs may track this more closely over time.
cmegroup.comauthors/dan-brusstar,authors/elizabeth-hui,authors/paul-wightmanJan 13, 2017After 11 past neutral logistics events, Crude Oil (WTI) moved a median +3.8% over 5 sessions (73% higher; middle half -0.4% to +6.6%), and +6.3% over 20.
After 36 past logistics events, Crude Oil (Brent) moved a median +0.2% over 5 sessions (50% higher; middle half -4.6% to +3.2%), and +1.5% over 20.
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.
