July 6, 2021

Over the last four weeks total stockpiles, including the Strategic Petroleum Reserve, have fallen at a rate of 1.15 million barrels a day, marking the largest four-week decline on a rolling basis in Energy Information Administration Data going back to 1982. Meanwhile, Nymex calendar spreads rallied Wednesday, with the September West Texas Intermediate futures contract […]

News last week that U.K. oil super-major, BP, is working on a plan to spin off its operations in Iraq’s supergiant Rumaila oil field into a stand-alone company had an extremely familiar ring about it to those who have been in the oil markets business for a while. It was exceptionally reminiscent of the withdrawal