Daily Energy Posts

Last June (2012) the largest refinery on the East Coast was on the brink of closing - in part due to higher international crude prices (versus US inland grades).

Earlier this week (see Spring, Spring, Spring is in the Air) we looked at the US natural gas supply demand picture. Our analysis focused on the 25 percent run up in NYMEX natural gas futures prices to $4/MMBtu this year (they have since slipped back to close yesterday at $3.90/MMBtu).

Western Canadian heavy crude producers are getting desperate to find markets for oil sands production expected to increase by 1 MMb/d over the next 3 years.

Last Thursday (March 28, 2013) the CME Henry Hub natural gas futures contract closed out the first quarter of 2013 at $4.024/MMBtu (prices slipped 0.9 cents to $4.015/MMBtu Monday). A year ago the futures price was $2.126/MMBtu – about half what it is today.

The start of April marks the traditional summer driving season. Domestic demand for gasoline is waning due to renewable fuels and higher fuel economy standards.

Cushing, Ok has historically been known as the “Pipeline Capital of the World”. That was before the pipelines got congested in 2011 and inventory piled up – creating a discount warehouse for crude.

Over the past two years, natural gas production from the Appalachian region has soared with growth in the Marcellus pushing total production beyond 10.5 Bcf/d.  Just next door the Utica Shale is coming into focus with attractive economics due to the natural gas liquids, crude oil and condens

Last week (March 18, 2013) the CME NYMEX Henry Hub futures contract open interest reached a record 1.32 MM contracts. The previous high was in April 2012.

The West Texas Intermediate (WTI) discount to Brent has narrowed 30 percent in 2013 to close at $13.95/Bbl on Friday March 22, 2013. At the same time Gulf Coast Light Louisiana Sweet (LLS) prices have moved unexpectedly to a $6.75/Bbl premium over Brent.

Today’s blog is something different.  It is a special feature covering a unique aspect of the NGL/LPG industry, known as the LPG Charity Fund.  The organization is an integral part of this community, due both to its good works and its widely attended extracurricular events.  In pos