July Crude Oil Exports Plummet to January 2023 Levels

Crude oil exports from the U.S.

U.S. Gulf Coast 3-2-1 Crack Spread - Chart Toppers

As of August 4, the USGC 3-2-1 crack spread sits around $22.70/bbl. Diesel crack led the way, peaking at $35.07/bbl on July 21 before tumbling to $26.05/bbl by August 1 and inching back up to $27.84/bbl on August 4.

U.S. LNG Feedgas Demand Could be Heading Higher This year

U.S. LNG could be setting up for a sizzling second half of the year after a record high from Plaquemines, ramped up activity at Corpus Christi, and the long-anticipated launch of Golden Pass.

Apparent Construction Cost of Woodfibre LNG Nearly Doubles

Woodfibre LNG, a 2.1 MMtpa (million tonnes per annum, ~300 MMcf/d gas intake) LNG export terminal under construction near Squamish, BC (image below), may be facing a near doubling of its original construction cost estimate.

U.S. Petchem Margins are Coming Back!

After languishing at very weak levels for the past six months, ethylene steam cracker (petchem) margins are clawing their way back to respectable territory. As shown in the right graph below, the petchem margin on ethane feedstocks is back to almost 20.0 c/lb, rebounding from 10 c/lb in May.

Permian Gas Production Sets Monthly Record

Natural gas production in the Permian basin averaged more than 21.5 Bcf/d in July, a new record high for the basin, and is pushing higher as August begins. Production was above 21.9 Bcf/d in the back half of the week.

Cool to Be a Canuck — Canadian Heavy Oil in the Gulf Coast Sustains Tight Price Differentials

In recent months, the price differential for Western Canadian Select (WCS) and Access Western Blend (AWB), two grades of Canadian heavy crude oil that are actively traded for physical delivery to refiners and exporters in the Gulf Coast region, have held near their narrowest values in the past fi

US Rig Count Begins August With Small Decline, Gas Rig Gains Continue

US oil and gas rig count declined by two for the first week of the new month, dropping to 540 rigs for the week ending August 1 according to Baker Hughes. One rig was added in the All Other group, while the Permian, Anadarko and Gulf of Mexico each lost one rig.

U.S. Propane Exports Hit 10-Month Low in May

The U.S. Energy Information Administration (EIA) published monthly numbers for May on August 31, and the propane numbers showed a large shift. Specifically, exports fell sharply, and storage built at a rapid clip.

Likelihood Increasing for a Sanctioning of LNG Canada Phase 2

On August 1, 2025, Fluor Corporation, an Irving, TX-based global engineering firm, announced that its joint venture (JV) partnership with JGC Corporation, a Japan-based global engineering firm, was awarded a contract to update the Front End Engineering and Design (FEED) for a proposed Phase 2 of

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