December 15, 2017

MTECHTIPS

MTECHTIPS:Crude Oil prices to remain firm

Mtechtips has come out with its report on Crude Oil.Crude oil prices rose as news of a key U.S. pipeline expansion will be completed next month and optimism about a deal to avoid the “fiscal cliff” prompted spread trading between the two contracts. Western Refining Inc said it experienced an unplanned outage on the fluid catalytic cracker (FCC) on the south side of its El Paso, Texas refinery on Friday, and as a result, its crude throughput has been reduced. North Dakota’s oil production hit another record high in October even as costs tempered the monthly output growth, the state’s department of mineral resources said on Monday.The state produced just under 750,000 barrels-per-day in October, a 2.5 percent increase from September and the lowest monthly growth since July, the regulator’s data showed.

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