Dominic specialises in North American crude oil market analysis. His work at Energy Aspects centres on supply and demand fundamentals, with a particular emphasis on regional crude balances, trade flows and grades. His research covers specialist areas such as Cushing storage, pipeline arbitrage and Canadian oil sands market dynamics. Prior to Energy Aspects he worked for a London based commodity fund as an oil derivatives trader, and for UBS in New York. Dominic holds a BA from Nottingham University and a GDL in Law from the University of Law, London. Dominic is currently an MBA candidate at Warwick Business School, where he is enrolled on the Global Energy MBA programme.
Extract from crude oil: Cushing stocks drew by 0.8 mb w/w to 68.6 mb, taking the total Cushing draw across April to 0.5 mb so far. The weekly draw was driven by surging flows on BP1, a pipeline carrying crude oil from Cushing to BP’s Whiting refinery. The gyrations of BP1 flows are a long-standing ..
3 days ago - Read more
Total Canadian liquids production rose by 0.14 mb/d m/m in January to 4.93 mb/d, higher by 0.25 mb/d y/y. The m/m liquids growth was 60 thousand b/d shy of our forecast, as bitumen output was in-line with expectations but synthetic crude production underperformed following operational issues at the ..
4 days ago - Read more
Away from all the daily range-bound trading, there are some strange things going on in the oil market. The Brent-Dubai EFS has narrowed to below $1, yet June/July Dubai spreads are -55 cents. A narrow EFS should be supportive for Brent and WTI spreads as this allows for more arbitrage crude flows. Y..
4 days ago - Read more
Extract from crude oil: Adding to lower OPEC exports to the US, Canada is playing an important part in driving these overall stockdraws. Issues at the Syncrude Mildred Lake upgrader in Canada are likely to curtail some 25 mb of synthetic crude production between mid-March and end-May. Re-supply opt..
1 week ago - Read more
Extract from crude oil: Crude stocks rose by 1.6 mb w/w to 536 mb, making the total March inventory change 10.7 mb, higher y/y by 29 mb. PADD 3 led the build, with stocks up by 2.7 mb w/w to 281 mb as runs eased by 0.19 mb/d to 8.5 mb/d, while exports fell by over 0.4 mb/d w/w to 0.58 mb/d. This of..
2 weeks ago - Read more