oil natural gas, refining of petroleum notes examples,Common work in petroleum refineries includes piping of carbon,

Brent Is Outperforming WTI Crude Oil

On December 11, 2017, Brent crude oil (BNO) energetic futures settled $6.7 more than WTI (West Texas Intermediate) crude oil (USO) (UCO) energetic futures. The Brent-WTI spread was at $four.98 on December refining of petroleum notes examples 4, 2017. On December four-11, 2017, Brent crude oil February 2018 futures rose three.6%, while US crude oil January futures rose zero.9%. As a result, the Brent-WTI unfold expanded. The next rise in Brent crude oil prices may very well be due the Forties Pipeline shutting down within the North Sea and the concern of a strike in crude Oil Distillation Nigeria. WTI crude oil prices are weaker because of file US crude oil production. Partly 2, we discussed US crude oil production.

Fascinated by UCO Do not miss the next report.
Obtain e-mail alerts for brand spanking new research on UCO

US oil exports
For the week ending December 1, 2017, US crude oil exports have been at ~1.36 MMbpd (million barrels per day). From the same interval in 2016, US crude oil exports have risen by 859,000 barrels per day. The Brent-WTI unfold rose ~$3.9 throughout this period—an incentive for US crude oil exporters.

chemical tower manufacturing installationA relatively increased Brent-WTI unfold would mean less revenue for US oil producers (XOP) (DRIP) for refining of petroleum notes examples their output within the US market benchmarked to WTI crude oil—compared to their international friends, whose output is benchmarked to Brent crude oil prices.

However, US refiners (CRAK) could reap the benefits of the value distinction. Their income might rise by using cheaper US crude oil as enter, whereas their output is benchmarked to stronger Brent crude oil prices. In the trailing week, the VanEck Vectors Oil Refiners ETF (CRAK), which tracks world refining stocks, rose 1.3%.