2018 Gulf Coast exports off to a strong start

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2018 Gulf Coast exports off to a strong start

The consistent slide in US commercial crude oil inventories over 2017 was one of the most bullish indicators that led to the recent oil price rally. Strong US job numbers at the start of 2018 have fueled sentiment that the trend will continue...

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PADD 3 products exports on trend but at lower volumes as we approach the estimated end of Hurricane Season

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PADD 3 products exports on trend but at lower volumes as we approach the estimated end of Hurricane Season

Despite the fact that the 2017 Atlantic hurricane season may yet have weeks to run and potentially develop another devastating storm on the same level as a Harvey, Irma, or Maria we have passed the typical peak period; most years the count and severity of most Atlantic storms begins to continually weaken from about the end of September towards the end of November. After 2017, this should come as good news, but...

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US East Coast disruptions due to Harvey compensated by some supply shifts, some price effects

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US East Coast disruptions due to Harvey compensated by some supply shifts, some price effects

We previously reported on the projected market effects of last week’s devastating flooding in Texas as well as the wider Gulf of Mexico. Hurricane Harvey was a major hit to PADD 3, the United States’ major petroleum refining heartland, and this posed major problems for refined product retailers and consumers in major consumption regions. Particularly newsworthy was...

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Diesel inventory build, outlier among bullish EIA report, to be partially taken off by export recovery out of US Gulf Coast

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Diesel inventory build, outlier among bullish EIA report, to be partially taken off by export recovery out of US Gulf Coast

This week’s EIA report was strongly bullish; despite a jump in domestic oil production and a slight increase in already-high refinery utilization rates, US stock levels fell for crude oil, gasoline, and jet fuel. However, distillates rose. In fact, they rose considerably – by approximately 2% vs an average draw of 1.1% for the other categories. How to explain this?

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