About five weeks ago Bakken crude oil prices nose-dived almost $25/Bbl in a few days. In a posting titled A Perfect Storm in the Bakken we looked at the geography of flows through Clearbrook and Guernsey, the behavior of regional prices and the causes of the price crash. The graph below shows the prices at these two hubs versus WTI at Cushing with the period in question indicated by the blue dashed line.
We laid out five factors that drove the price down:
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