Can Oil Break The $70 Threshold?

10 Jan 2018   Prices

As the oil price rally continues it is looking increasingly likely that Brent will break the $70 mark, a scenario that has OPEC on edge as prices move beyond its stated target. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) – The U.S. has seen the installation of around 700 megawatts of utility-scale battery storage capacity over the last several years. – The total is only 0.06 percent of U.S. utility-scale generating capacity. But the storage market is starting to gain steam. – As of now, there is another 69 MW of capacity planned for this year. Market Movers • ONEOK (NYSE: OKE) announced plans to spend $1.4 billion on a new pipeline from the Rocky Mountain region. The 900-mile Elk Creek Pipeline would carry 240,000 bpd of unfractionated NGLs from Montana to Kansas, and is expected to be completed by the end of 2019. […]

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