Your reading the Nut-Job on the TSO board .. now they have to chase to get back in.
By the way ... gasoline demand dropped back down last week. If demand picks up ... this sector will fly... And it's just Feb 2nd
This part about " Penalties " , you have to love ... Forced to move crude or lose your right to use it later.
Like a gun to your head ... use it or lose it.
"Little wonder that Spearhead attracted a staggering 737,500 bpd in nominations for February. Traders expect similarly heavy bidding for capacity in the coming months. That likely means Spearhead will run at capacity in March, April and May as well, potentially adding millions of barrels of oil to stockpiles at Cushing as inbound flows rise by some 100,000 bpd or more compared to last year. With stiff penalties for firms who fail to use up all of the capacity they have reserved, higher Spearhead nominations are all but certain to result in higher Cushing stocks."
Seaway WHAT ... LOL.
Over subscribed ... Big build coming to Chushing.
Read the date.
" West Texas Intermediate crude futures may decouple further from the global oil market this spring as a quirk in pipeline rules spurs traders to ship more oil to Cushing, Oklahoma, potentially adding millions of barrels to stockpiles. "