🛢️ — US refineries are about to lose their biggest link to crude oil
US refineries are operating at 97.2% utilization — the fastest pace in 8 years — chasing record diesel margins (~US$100/bbl). And just when they need crude, supply is set to shrink.
Canada, their #1 foreign supplier (~4M+ bpd), is taking about 300 thousand bpd of bitumen sands output offline next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwestern refineries — once thought to be shielded from the Hormuz shock — are now facing a squeeze from both sides: Gulf supply remains constrained, and northern barrels are drying up.
The result: a severe shortage of feedstock, which flows directly into retail pump prices before Labor Day. With Cushing inventories at multi-decade lows, the SPR at ~40-year lows, and Brent near US$93–
#SP500FuturesFall #BrentDrops1.87% AlibabaRaises$10.2BInHKShareSale#SolanaGovernanceVoteToDoubleDeflationRate #GoldNearsThreeMonthHigh #SamsungFalls6.4%OnReturnPlanMiss $BNB
$BTC
$XRP
US refineries are operating at 97.2% utilization — the fastest pace in 8 years — chasing record diesel margins (~US$100/bbl). And just when they need crude, supply is set to shrink.
Canada, their #1 foreign supplier (~4M+ bpd), is taking about 300 thousand bpd of bitumen sands output offline next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwestern refineries — once thought to be shielded from the Hormuz shock — are now facing a squeeze from both sides: Gulf supply remains constrained, and northern barrels are drying up.
The result: a severe shortage of feedstock, which flows directly into retail pump prices before Labor Day. With Cushing inventories at multi-decade lows, the SPR at ~40-year lows, and Brent near US$93–
#SP500FuturesFall #BrentDrops1.87% AlibabaRaises$10.2BInHKShareSale#SolanaGovernanceVoteToDoubleDeflationRate #GoldNearsThreeMonthHigh #SamsungFalls6.4%OnReturnPlanMiss $BNB
$BTC
$XRP
