Environmental Capital - WSJ.com: "Cushing is apparently getting close to storage capacity; Platt’s figures it can hold another 2 million or so barrels. But Cushing’s bulging tanks mean that U.S. oil prices are losing touch with reality, argued the FT’s Alphaville blog:
Essentially that means once Cushing storage nears capacity WTI will become increasingly depressed versus other crude grades and therefore disconnected from real oil supply/demand fundamentals. As a result it will no longer be a good indicator of US crude prices."
Sunday, January 11, 2009
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