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The Daley Note 1/28/2021

The Daley Note 1/28/2021

  • Crude Inventories Continue to Draw Down; Constructive for Oil prices: The U.S. Department of Energy (DOE) released weekly crude inventory data Wednesday morning (Jan. 27) showing a large oil draw well above market expectations, a bullish sign for crude oil prices as inventories, although still elevated, dropped back into the comfortable five-year range (graph below).
  • MPLX Sure Would (Sherwood) Like An Expansion: MPLX (MPLX) management said in its 3Q20 earnings call that the much-needed 200 MMcf/d Smithburg 1 expansion to the Sherwood JV processing complex in the SW Marcellus – Utica is complete and awaiting volumes from Antero Resources (AR) to begin service. (MPLX)
  • North American Energy Indicators and Equity Prices
  • North American Natural Gas Prices
  • North American Crude Oil Prices
  • North American Natural Gas Liquids Prices