Are We Standing on the Edge of the Energy Abyss?
Published On: March 30, 2015
Natural Gas Report - February 2015
At one point on Wednesday, March 18, 2015, the West Texas Intermediate (WTI) oil price fell to below $42.50 (US) per barrel. At the same time, US stock piles of crude surpassed 450 million barrels, the highest level in over 80 years. Now there is growing concern in the market that the physical storage at Cushing, Oklahoma could hit capacity levels that would leave producers with no market for excess production. This type of event in the past has hit hard Western Canadian producers whose prices are set against the WTI benchmark (East Coast producers receive the Brent benchmark price)..... Download full report.February 2015