By cEntellect
In Research & Analysis - Crude
Posted

US Dollar Blocking Bullish Sentiment

US Dollar and Supply/Demand Worldwide crude trade is vast majority settled in US Dollars. The US Dollar and WTI crude price are highly negatively correlated -0.82 over past 10 years; Bullish [...]

By cEntellect
In Research & Analysis - Crude
Posted

Alberta Differentials

Alberta’s crude production exceeds takeaway capacity by 540,000 BBLs/day causing -$32 USD BBL differential average under WTI Cushing price (over 5 days prior to Alberta mandatory crude production [...]

By cEntellect
In Research & Analysis - Crude
Posted

Crude Oil Selloff

Given the recent, sharp decline in WTI crude oil prices, we need to summarize the key fundamental factors impacting the market that we have discussed in previous Research & Analysis reports [...]

By cEntellect
In Research & Analysis - Crude
Posted

U.S. EIA Weekly Crude Production Estimate Methodology

As U.S. crude oil production has grown to ~11+ million barrels per day, the timeliness and accuracy of the U.S. Energy Information Administration (EIA) estimates has become increasingly important [...]

By cEntellect
In Research & Analysis - Crude
Posted

US Crude Demand Destruction

Takeaways US crude demand destruction >$66 BBL @ -1% per +$1.50 BBL; If crude price >$66 BBL, then demand destruction. If crude price <$66 BBL, then demand creation. The crude market is [...]

By cEntellect
In Research & Analysis - Crude
Posted

USMCA Energy Provisions

United States – Mexico – Canada (USMCA) trade agreement replaces NAFTA and questions have been asked what are the USMCA energy provision implications and why did NAFTA’s Chapter 6:  Energy and [...]

By cEntellect
In Research & Analysis - Crude
Posted

Marine IMO 2020 Desulfurization Economics

Starting in 2020, ships will have to reduce fuel oil sulfur from 3.5% to 0.5%.  Much has been written and discussed as to the emerging International Maritime Organization (IMO) 2020 scenarios [...]

By cEntellect
In Research & Analysis - Crude
Posted

Currency Demand Destruction

Emerging markets currency devaluation dramatically increases imported crude cost in local currency. Affected countries have started to curtail crude imports; Pakistan imports down -6% year on [...]

By cEntellect
In Research & Analysis - Crude, Research & Analysis - Natural Gas
Posted

Red Queen Hypothesis

Red Queen is an evolutionary hypothesis which compares the extinction rate to the sexual reproduction rate. When we swap out “extinction” for “depletion”, and “reproduction” for “productivity [...]

By cEntellect
In Research & Analysis - Crude
Posted

Ethanol

Background Ethanol (grain alcohol) is the most controversial product in the energy complex with a long history of misinformation by fans and haters both. So controversial for so long that many [...]