Dwindling crude stocks in Cushing… Bloomberg

June 24, 2021 by Jim Colburn Leave a Comment

Sheela Tobbin and Lucia Kassai, Bloomberg, have a nice piece on declining oil stocks at Cushing, here…

”Stockpiles in Cushing, Oklahoma, the delivery point for West Texas Intermediate oil futures fell nearly 4 million barrels in the last two weeks, bringing inventories to the lowest since March of 2020 when the pandemic forced the country into lockdown. Analysts are estimating and traders are betting that supplies could dwindle to seasonal levels not seen since 2018 by the end of September.”

The front crude spread is already correcting… Here is Barchart.com with the front month spread:

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