Check this out: a look at what's accumulated so far in the Springbank Reservoir. Capacity here, btw, is over 70 million m³.
After peaking above 290 m³/s at Bragg Creek, the Elbow has dropped to around 230 m³/s.
Crazy to think the Elbow peaked at about 4 times this rate in 2013.
@GavMcCracken Canadian Tire gas station was out of gas in SW Calgary today. Or maybe pumps weren’t working, I dunno either way, but I take it as an omen of things to come 👀. Had a great price of 1.41/L, I couldn’t drive by
Can someone plz point out which Canadian oilcompanies sell significant volume of this mythical physical oil, I want to get in on that WTI+20-30/BBL action!
As a small producer all we ever see is WTI average index.
Thx in advance
Dated Brent crude sitting above $130/bbl this afternoon compared to sub-$100 Brent June futures.
Physical premia are another ~$20+/bbl on top of that.
Spot/Phys markets need to price the acute scarcity even if forward prices can still hold onto the hope that this will end soon.