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EconMatters - Global Economic and Market Analysis That Matters

No More Storage in Cushing: WTI will be $90 in a Month

March 31, 2011 by EconMatters   Comments (0)

By Dian L. Chu, EconMatters The latest inventory report came out on Wednesday, March 30 from the U.S. EIA (Energy Information Administration) showing Cushing stocks at a record 41.9 million barrels (Fig. 1). And guess what? The news is only going to get worse for WTI longs, as the next couple of weeks will bring the total storage at Cushing close to the max capacity of 44 million barrels due to the fact that more traders took delivery on WTI on the last CL rollover. MENA Does Nat Matter Much There is a three week span after the expiration where actual physical delivery takes...

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