Texas operators continue to break production records, with expanded pipeline operations bringing products to Texas’ ports for refining and export. Combined with increased demand due to the Iran conflict, the Port of Corpus Christi reported its strongest first quarter on tonnage of commodity exports on record – led by crude and liquified natural gas (LNG).
Brent futures are understating physical market stress, analysts at BMI, a unit of Fitch Solutions, said in a BMI report sent to Rigzone by the Fitch Group early Friday.
Curious Minds Corner
In what year did crude oil prices hit their all-time peak over the past century?
2008, when Brent crude topped $147 per barrel amid supply fears and demand surges.