That x account looks like a whack job. But then the USA is really in a mess and the political landscape there is to me incomprehensible.
That said this trading hub is short of oil stored.
what I found on line is quoted here.
A key U.S. oil town is running out of oil, and the impact is sending shivers through energy markets. It’s one reason why U.S. oil prices were trading above $94 per barrel on Wednesday for the first time since August 2022 and could eclipse $100 soon.and August 2018, storage levels haven’t been this low since 2014.The explanation involves geography, chemistry, and the mechanics of oil trading. Just 8,000 people live in Cushing, Okla., but the massive oil pipelines that run through the town have made it a central trading hub—and the location where West Texas Intermediate crude is priced. The WTI futures contract is the benchmark U.S. price. Every month, people who hold expiring futures contracts receive oil from the storage tanks in Cushing. That contract is one of the most important in the energy market, backing major financial products like the United States Oil ETF (ticker: USO).
Over the past month, the tanks have started to run dry. The latest government statistics released on Wednesday show that Cushing holds just under 22 million barrels of oil. Other than brief periods in July 2022
The main reason for the lack of oil is that refiners are using nearly all their capacity to take crude and pump out gasoline and diesel, which are both fetching strong margins. In addition, a pipeline outage in Cushing forced oil to flow elsewhere. Gasoline prices are now at $3.83 per gallon.
full story
https://www.barrons.com/articles/oil-trading-is-going-haywire-as-storage-tanks-run-dry-87cb7ce8
It's looking volatile for price in this near term and one of the better things to be might be as a producer of the commodity.
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