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Crude slides with Texas oil wells restarting output

Crude slides with Texas oil wells restarting output
Bloomberg
Oil fell to the lowest in a week as output slowly resumed in Texas, while margins for processing gasoline surged as Gulf Coast refineries are seen taking weeks to restart operations after the deep freeze.
West Texas Intermediate (WTI) for March delivery on Friday fell US$1.28 to US$59.24 a barrel, its biggest decline in US dollar terms since late December last year.
Producers including Marathon Oil Corp are using restored power from grids or generators to resume output that was halted by the frigid weather this week in the Eagle Ford shale basin. ....

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Crude Slides With Texas Oil Wells Seen Restarting Output

Crude Slides With Texas Oil Wells Seen Restarting Output
Bloomberg
2/19/2021
Andres Guerra Luz
(Bloomberg) Oil fell to the lowest in a week as output slowly resumed in Texas, while margins for processing gasoline surged as Gulf Coast refineries are seen taking weeks to restart operations after the deep freeze.
Crude futures in New York plunged $1.28 on Friday, its biggest decline in dollar terms since late December. Producers including Marathon Oil Corp. are using restored power from grids or generators to resume output that was halted by the frigid weather this week in the Eagle Ford shale basin. Meanwhile, fuel margins jumped with four of the biggest refineries in Texas seen taking several weeks to resume operations, raising the potential for fuel shortages. ....

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Crude: Oil Fast Giving Up Big-Freeze Gains With Wells Slowly Restarting

Oil fell for a second day as wells slowly restarted in Texas and the White House said it would be willing to meet with Iran, potentially paving the way for more crude exports from the Persian Gulf nation. ....

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Light Crude Ends Week Below $60

Oil fell to the lowest in a week as output slowly resumed in Texas. ....

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Oil Climbs With Market Structure Firming Amid Supply Declines

Oil Climbs With Market Structure Firming on Tightening Supplies
Bloomberg
2/9/2021
Andres Guerra Luz
(Bloomberg) Oil continued its advance for the seventh straight session on expectations of a strong rebound in demand and as the dollar weakened.
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Futures in New York climbed above $58 a barrel, the highest since January 2020 after a choppy trading session Tuesday. The nearest Brent contract sharply widened its premium to the following month, pointing to supply tightness, with inventories shrinking globally and amid expectations of further supply declines in the U.S. A weaker U.S. dollar is boosting the appeal of commodities priced in the greenback. ....

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