Is Cushing's Oil Glut Easing And WTI Headed Higher?
A surprise drop in U.S. oil inventories last week, particularly in the Midwest, in some respects supported recent arguments that WTI crude oil prices are headed higher. If accurate, it could bode well for domestic oil producers, including Bonanza Creek Energy (BCEI) and Oasis Petroleum (OAS). It also could mean narrower margins for Midwest refiners like Northern Tier Energy (NTI) and Phillips 66 (PSX), as well as wider margins for Gulf Coast
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