🛢️ — U.S. refineries are about to lose their biggest source of crude oil
U.S. 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 the crude, supply will shrink.
Canada, their #1 foreign supplier (~4M+ bpd), will remove about 300,000 bpd of bitumen sands from production next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwest refineries — thought to be protected from the Hormuz shock — are now facing pressure from both sides: Gulf supply remains constrained and northern barrels are drying up.
The result: a severe shortage of feedstock, which feeds 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– #EtherXRPETFInflowStreaksEnd #CFTCScrutinizesPredictionMarketAffiliates #USGainsControlOfVenezuelanOilFields #SECNewCryptoRulesAimToBringFirmsBackToUS #USISMServicesRisesTo55.4InAugust $BTC
$SOL
$BNB
U.S. 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 the crude, supply will shrink.
Canada, their #1 foreign supplier (~4M+ bpd), will remove about 300,000 bpd of bitumen sands from production next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwest refineries — thought to be protected from the Hormuz shock — are now facing pressure from both sides: Gulf supply remains constrained and northern barrels are drying up.
The result: a severe shortage of feedstock, which feeds 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– #EtherXRPETFInflowStreaksEnd #CFTCScrutinizesPredictionMarketAffiliates #USGainsControlOfVenezuelanOilFields #SECNewCryptoRulesAimToBringFirmsBackToUS #USISMServicesRisesTo55.4InAugust $BTC
$SOL
$BNB
