Crude-to-Gas Ratio Crashes Back to Earth, From 52X Down to 18.5X

On Friday the crude-to-gas ratio – simply the price of WTI crude oil divided by the price of Henry Hub natural gas - dropped to 18.5X ($69.46/bbl WTI divided by $3.75/MMbtu Henry Hub, right graph, red dashed oval). That is down from an astronomical 52X in April when gas was $1.61 and WTI was $83.

Winter Propane Storage Draws Strong Since October

U.S. propane storage is quite high. Last year's five-year high has been passed, with storage for the week ending December 9 showing more than 90 MMbbl, according to the Energy Information Administration. At this level, U.S. propane storage is 1.7 MMbbl or 2% above 2023's record highs.

Gulf Coast Exports Hold Steady as Rates Wobble

U.S. crude oil exports averaged 4 MMb/d last week, an increase of 80 Mb/d from the prior week as steady Beaumont, Louisiana and Corpus Christi exports helped offset a decrease of 150 Mb/d from Houston-area terminals.

Canadian LPG Stocks - Propane Stocks in Seasonal Range, Western Butane Stocks Very Tight

Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of November (red line in left hand chart below) were posted at 5.7 MMbbl, a stronger than average decline of 1.1 MMbbl and stand 0.7 MMbbl (-11%) below the five-year average (blue line).

Energy Transfer Inks SPA with Chevron for LNG at Port Arthur

Here’s the lowdown on U.S. LNG action last week, and boy, was it a busy one. Total feedgas demand hit 13.78 Bcf/d, up 550 MMcf/d week-on-week, thanks to solid gains at Cameron LNG, Sabine Pass, and the new kid on the block, Plaquemines LNG.

Canadian Drilling – Gas and Oil Rig Counts Dialing Down for the Holidays

For the week ending December 20, Baker Hughes reported that the Western Canadian gas-directed rig count fell 14 to 56 (blue line in left hand chart below), nine less than one year ago and the single largest one week drop since late March 2020.

India, Not China, Set to Lead in Oil Consumption Growth: EIA

India, not China, has emerged as the leading source of growth in global oil consumption in 2024 and is expected to repeat that in 2025, according to the Energy Information Administration (EIA).

U.S. Adds $3.1 Billion in Funding for Carbon-Capture Projects

The U.S. carbon-capture industry got a boost this week when up to $3.1 billion in new funding was made available through a pair of initiatives announced by the Department of Energy.

Flows on Mars Oil Pipeline Recovered in October After Storms

Throughput on the Mars Oil Pipeline has rebounded from the year’s lows when storms during hurricane season disrupted E&P operations across the Gulf of Mexico (GOM), based on the latest state data.

Massachusetts City Signed a Giant Virtual Power Plant Deal

This week, Cambridge, Massachusetts, announced it will procure 50 MW of clean energy under a virtual power plant agreement in Illinois with MN8 Energy. This is the largest virtual power plant agreement signed by a U.S.

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