A new 67-kilometer-long in Nigeria’s Niger-Delta area has begun commercial operation over a decade after construction began. The Amukpe Escravos Pipeline pipeline will have the capacity to transport 160,000 barrels per day (bpd) and reduce dependence on existing infrastructure. The Niger Delta is both ecologically sensitive and one where oil infrastructure projects often face a […]
oil
But analysts note that lingering storm activity along the U.S. Gulf Coast could make for a bumpy ride.
The rumor mill and potential impacts from Hurricane Ida led to substantial prices swings in intraday trading.
Demand indicators from the commodities sector show the U.S. remains resilient, though it’s clear the pandemic is not yet over.
Demand for refined petroleum products such as gasoline are still not yet at pre-pandemic levels.
Federal data released Thursday show gasoline demand is charting new heights, as oil prices step back from a 6-year-high.
A small dip in implied demand was attributed to inclement weather.
Should U.S. oil prices run too hot, they will approach global prices and diminish incentives to export.
Markets were volatile as the usual movers were overshadowed by the U.S. Federal Reserve.
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