RBN Energy - Daily Energy Posts

Total U.S. LNG feedgas demand averaged 18.9 Bcf/d for the week ending September 13 (blue-dotted line below), up slightly week-on-week with small changes across all terminals. 

Enbridge is buying Tallgrass Energy's crude oil transportation business for $2.55 billion. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline system, which connects oil production in the Rockies to Cushing and provides access to about 500 Mb/d of refining capacity. 

The frac spread — a rough gauge of the value of extracting NGLs from raw gas — hit $6.15/MMbtu last week, its highest level since February 2024.

Today, we look at why high crack spreads don’t necessarily increase a refinery’s output, how market disruptions elsewhere can drain U.S. inventories, and the indicators that will help tell us whether the diesel squeeze is easing (or worsening).

In Western Canada the gas-directed rig count rose by two to 64 rigs, while the oil-directed rig count was unchanged at 139 rigs, for the week ended September 11, according to Baker Hughes data.