Cushing
City in OklahomaWikipedia
25
MENTIONS
18
EPISODES
18
PODCASTS
Search complete. 25 mentions across 18 episodes found for "Cushing".
Oct 29, 2026
Rory JohnstonHOST
That part of that, again, there's a couple of ways of looking at this.
Rory JohnstonHOST
You can look at WTI in Cushing, you can look at WTI in Houston, which I think is probably a structurally safer kind of comp.
Rory JohnstonHOST
But that spread between WTA Houston and dated Brent blew out to, you know, in early October, it was something like $40 a barrel or something like that, like record levels larger even than the day that WTI traded negative in 2020.
Rory JohnstonHOST
Part of this is definitely shipping.
Rory JohnstonGUEST
For instance, there's this new pipeline that is revitalizing or kind of resurrecting the idea of Keystone XL, which is called Prairie Link into Bridger Expansion.
Rory JohnstonGUEST
And then that goes over to Cushing and down.
Rory JohnstonGUEST
That is going to be much, much cheaper on a per flowing barrel basis.
Rory JohnstonGUEST
The challenge is that security is not, and strategic considerations are not necessarily productive.
Tony St. JamesHOST
are following some trucker protests there, not to mention we had a report of a Saudi refinery attack overnight, which pushed WTI back higher.
Tony St. JamesHOST
Well, let's go to where we talk about, you know, our delivery point for crude is in Cushing, Oklahoma.
Tony St. JamesHOST
I don't know how close Bobby is to Cushing, Oklahoma, but hi, Bobby, what's on your mind this morning?
BobbyAUDIENCE
Yes, sir.
BobbyAUDIENCE
I'd like to know why does everybody think the Democrats will be so bad if they get in there whenever Trump is making a fortune for his buddies on Wall Street? Why is people voting against their best interest? My grandpa was a big soybean farmer.
Cody StovallHOST
And Clear Lake safety team, Terrell Stinson.
Cody StovallHOST
You've also got Cushing, Oklahoma quarterback Gabe Gurley, which would be pretty cool.
Cody StovallHOST
That's a unique story in and of itself.
Cody StovallHOST
Four-star running back Rocky Sharpe.
Edward L. MorseGUEST
And the negative pricing was not because the market got glutted, it was because of the structure of the US again, the six countries that the US is.
Edward L. MorseGUEST
And the fact of the matter is it was not the US that had a glut, it was Cushing, Oklahoma that had a glut.
Edward L. MorseGUEST
And in order to deal with that glut, people had to be paid not to put oil into the commercial inventories of the country.
Edward L. MorseGUEST
And that resulted in negative pricing.
Mike ZuzoloGUEST
Well, another key feature about today that should give the beans or could give the beans a little bit more support than it has had in the last week or two is that soybean oil is up with the cash crude oil market.
Mike ZuzoloGUEST
Both Brent in London and the Cushing, Oklahoma spot prices are higher to sharply higher this morning.
Mike ZuzoloGUEST
That suggests we're very tight on nearby supplies.
Mike ZuzoloGUEST
That's helping the soybean oil quite a bit.
Ken SimonsonGUEST
So if things calm down there, then yes, the deliveries will come back.
Ken SimonsonGUEST
But meanwhile, we've greatly depleted both public and private strategic petroleum reserves, tanks in Cushing, Oklahoma, the head for fuel distribution, very much depleted.
Ken SimonsonGUEST
So it'll take a long time to build that up.
Ken SimonsonGUEST
And meanwhile, you'll have a lot of exposure, a lot of volatility, and continued high prices there.
Rory JohnstonGUEST
I think most of it can come down to the shipping rate again, which is so when you look at the spread between...
Rory JohnstonGUEST
So first of all, WTI is a landlocked, um, benchmark in Cushing, Oklahoma, right? Brent is a North Sea on-water benchmark.
Rory JohnstonGUEST
The, the truer, the better comparison is between Brent and WTI at Houston.
Rory JohnstonGUEST
Uh, so an actual seaborne benchmark.
Hamish HodderHOST
On the 21st, anyone with long positions in the contracts is obligated to buy physical oil.
Hamish HodderHOST
For WTI contracts, this means taking delivery of oil at the facilities in Cushing, Oklahoma.
Hamish HodderHOST
You can't just say, "Please deliver these oil barrels to my house." You have to store the oil in tanks or in pipelines connected at Cushing.
Hamish HodderHOST
Or in other words, you'd need to buy storage space from a midstream company who owns tanks or a pipeline there.
Hamish HodderHOST
In total, there's room for about 76 million barrels, and by the 17th of April it was already about 80% full, and the remaining space was already leased out to oil buyers who needed the space.
Hamish HodderHOST
Firstly, the COVID shock meant that oil was coming in faster from producers drilling than it was leaving to go to refineries to make diesel and petrol.
Hamish HodderHOST
Secondly, the June oil futures were priced significantly higher than May, which is a situation called contango.
Hamish HodderHOST
If you're a midstream firm with tanks at Cushing, storing oil for the next month is highly profitable.
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