Zuck Wild - Meta Going All In on Data Centers

If you thought the AI data center boom was already wild, buckle up. Meta just took things up a notch, or five.

Net Refinery Input Falls To May Levels

According to the EIA’s most recent Weekly Petroleum Status Report, total U.S.

Propane Days Supply Hit Record High

The EIA reported total U.S. propane/propylene inventories had a build of 4.4 MMbbl for the week ended July 11, which was more than industry expectations for an increase of 2.3 MMbbl and more than the average build for the week of 2.4 MMbbl.

Hot Stuff — Ontario on Track for Record Gas Power Burn

Natural gas consumption for power generation (“power burn”) in Canada’s most populous province of Ontario is on track for a monthly record based on data compiled in RBN’s Canadian NatGas Billboard.

Gulf Coast Gasoline-to-Diesel Ratio - Chart Toppers

Monthly Gulf Coast gasoline prices for July 2025 dropped to 90% of diesel prices, continuing a steady slide from 94% in June and 101% in May.

Waterborne Crude Oil Exports from the Trans Mountain Pipeline Decline for Third Consecutive Month

Waterborne crude oil exports from the Trans Mountain Pipeline (TMP) averaged 378 Mb/d in June 2025 (rightmost stacked columns in chart below), a decline of 48 Mb/d versus May, an increase of 71 Mb/d from a year ago, and down 120 Mb/d from the peak of 498 Mb/d in March 2025 based on shipping data

U.S. LNG Feedgas Demand Continues to Climb

U.S. LNG feedgas demand averaged 15.58 Bcf/d last week, up 0.37 Bcf/d from the previous week, driven by rebounding flows to Cameron and Freeport. Both terminals returned to full operation after experiencing disruptions the previous week.

Slow Week For Rigs As Total US Count Drops To 537

In another week-on-week decline, US oil and gas rig count fell by two for the week ending July 11, dropping total rigs to 537 according to Baker Hughes. The Anadarko (-1) and All Other (-1) both lost rigs, while no basins reported gains this week.

Canadian Drilling – Summer Heat Lifts Rig Counts

For the week of July 11, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 50 (blue line and text in left hand chart below), 13 less than one year ago and the lowest for this time of year since 2021.

Gulf Coast Re-Exports of Canadian Heavy Crude Oil Holds Steady into Mid-Year

Re-exports of Canadian heavy crude oil are estimated to have been 117 Mb/d in June (rightmost stacked columns in chart below), a small gain of 4 Mb/d from May, 49 Mb/d less than a year ago and the third consecutive month greater than 100 Mb/d based on tanker data compiled by Bloomberg and histori

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