🛢️ — US refineries are about to lose their biggest source of 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 300,000 bpd of oil sands production offline next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwest refineries — once 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 major shortage of feedstock, which flows directly into gas pump prices at retail ahead of Labor Day. With Cushing inventories at multi-decade lows, the SPR at ~40-year lows, and Brent near US$93– #WorldLaunchesSelfCustodyAppIn150Countries #SPGlobalToAcquireOpenZeppelin #XRPGains3%AsRippleAddsMPPSupport #SECGrantsInnovationExemptionForTokenizedStocks #StellarActivatesProtocol28At211TPS $BTC
$ETH
$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 300,000 bpd of oil sands production offline next month for maintenance (Rystad), with Alberta inventories already at 1-year lows. Midwest refineries — once 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 major shortage of feedstock, which flows directly into gas pump prices at retail ahead of Labor Day. With Cushing inventories at multi-decade lows, the SPR at ~40-year lows, and Brent near US$93– #WorldLaunchesSelfCustodyAppIn150Countries #SPGlobalToAcquireOpenZeppelin #XRPGains3%AsRippleAddsMPPSupport #SECGrantsInnovationExemptionForTokenizedStocks #StellarActivatesProtocol28At211TPS $BTC
$ETH
$XRP
