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Title : Oh-Oh! Trump Made THE Call. WTI Down Almost 4% -- Down $2.28 -- Trading At $62.93
link : Oh-Oh! Trump Made THE Call. WTI Down Almost 4% -- Down $2.28 -- Trading At $62.93

Oh-Oh! Trump Made THE Call. WTI Down Almost 4% -- Down $2.28 -- Trading At $62.93

Posted at 10:05 a.m. Central Time, April 26, 2019.

Wasn't it just two days ago pundits were talking $85 oil this summer?

WTI is plummeting. Gasoline prices this weekend should plummet. LOL. Let me know how that works out.

Trump gives Russia/OPEC carte blanche to open the spigots, kill US shale.

Barack Obama would have given a speech.

I think I read somewhere Saudi tracks Brent. I can't remember. I don't know. But Brent is also down. Down over 3%. Trading at $71.25.

OPEC basket, on the other hand, up slightly, at $74.04. Why would OPEC basket be rising (slightly) when WTI is crashing? The US needs heavy oil. The US is swamped with light oil.

Fortunately, Australia is starting to import US light oil. Link here.

Two cargoes of U.S. crude oil have been booked to sail to Australia, highlighting the increasing global reach of exports from the United States.

Aframax tanker Esther Spirit loaded U.S. oil in early April at Enterprise Houston Terminal and is scheduled to discharge at Kwinana in Western Australia on May 20.

BP Plc chartered the Silver Sun, an Aframax, to load from the U.S. Gulf Coast this week to Kwinana for $2.35 million. BP operates a refinery at Kwinana producing fuels for Western Australia.

And look at this, just the opposite of the US:

 “Australia’s aging refineries were designed to run regional crude that is typically light and sweet. U.S. crude is a good substitute for typical Australian refinery feedstock,”[somebody said.]

And to think the US would have a "goldilocks" oil situation had Obama not killed the Keystone XL. And folks on talk radio here in north Texas still get upset with Trump tweets. Get a grip. 

US crude oil exports:

http://bit.ly/2dZyQXu

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