IEA says Gushing storage opacity distorts WTI prices

摘要

The IEA says lack of transparency over storage capacity at the Cushing, Oklahoma, delivery point for WTI crude is distorting the price benchmark.Nymex owner CME Group says operational capacity at Cushing stands at about 40mn bl. But effective capacity may be lower when storage is taken out of service for repairs, according to the lEA's August monthly Oil Market Report (OMR), This would mean that inventories, which rose to 33.6mn bl in the week ending 7 August, are close to capacity.