Cushing News

Bitumen royalties projected to reach $10 billion by 2014-15.The residue hydroconversion unit.

On Nov. 30, 2001, the Nymex WTI Cushing Crude Oil First Month 321 Crack Spread was at 12.99. As of this writing, it is at 29.058. This is still a long way from the Aug.

Crude has been, for many years, a worldwide market. Yes, there were grades of oil that had different prices, but those different prices had more to do with technical qualities of the oil, it being sour or sweeter, heavier or lighter, than with where it traded.

The spread between prices for West Texas Intermediate crude traded on the New York Mercantile Exchange and Brent crude traded on ICE Futures London has reached its widest level since November as fundamental factors for the two markets diverge.

The Canadian dollar erased early losses and closed higher Tuesday as traders hopes that negotiations can yield an agreement that would allow Greece to secure an essential second bailout.

Oil prices climbed above $98 per barrel Tuesday after Iran again threatened to cut off supplies to Europe.

An oil pipeline and tank storage facility is shown in Hardisty, Alta., June 20, 2007.

Brent crude's premium to U.S. oil could be poised for another record run after jumping 50 percent over the past week, as an expected build in Midwest inventories again exerts pressure on the U.S. benchmark.

Oil declined in New York on concern that Greece will fail to take sufficient steps to avert a default, threatening Europe's economy and fuel consumption.

U.S. oil prices fell below $97 per barrel Monday as growing supplies offset concerns that President Barack Obama and other Western leaders will make it tougher for Iran to sell crude.

The Keystone XL crude oil pipeline would have benefited America in two fundamental ways: created thousands of much-needed jobs and increase domestic energy security.

The reports of the death of American manufacturing were premature. President Obama stopped the long hard decline in U.S. manufacturing that began under President G.W. Bush.

Refinery outages in the U.S. and Europe and lower U.S. crude prices will support U.S. gasoline refining margins and enable traders to profit from rising U.S. gasoline futures, said Seth Kleinman, global head of energy strategy at Citi.

Nixon said Tuesday that his administration would work to approve whatever permits are necessary for Enbridge Inc.

All this talk about how many jobs the Keystone pipeline will create and how it will bring us cheap fuel is a joke.

Senate District 6 is one of the Oklahoma Senate districts that will be most impacted by President Obama's recent decision to nix the $7 billion Keystone XL pipeline project.

The Animal Welfare in Cushing received a donation of a hot water tank from a local plumbing company Thursday afternoon.

A new joint venture product between the Petroleum Economist and Genscape featuring the oil pipeline infrastructure centred on Cushing, Oklahoma.

On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2-billion were awarded to two U.S. companies for work in the Alberta oil sands.

Rasmussen is reporting that the majority of voters want to see the building of the Keystone XL pipeline from Canada to Texas happen: Most voters still favor building the Keystone XL pipeline from Canada to Texas and think it will be good for the economy despite President Obama's decision last week to delay the project for environmental reasons.