Question-and-Answer Session
Operator
Thank you. We will now begin the question-and-answer session. (Operator Instructions). Our first question comes from Jeff Dietert from Simmons. Please go ahead.
Jeff Dietert - Simmons and Company
Good morning.
Michael Jennings
Hi, Jeff.
Jeff Dietert - Simmons and Company
The Cushing inventories have been building every week over the last six weeks. Could you talk about the major influences there and what you expect going forward to Cushing? Any influence that could have on your crude cost.
Michael Jennings
Paul, you want to take that?
W. Paul Eisman
You bet. Yeah, obviously Cushing I think approached 50 million barrels of storages week last time when the Contango blew out like it did earlier in the year. I think we are up to 53 million. So we are approaching that. Quarterly there has been some -- there is a lot of barrels going in to Cushing and frankly there is fewer ways to get out. There has been some refinery outages. There has been some refinery turnarounds and frankly with some of these margins, refiners are looking at the value of the incremental barrel and are cutting back. So we expect the Cushing inventories to continue to increase and see the potential for future CMA advantage in that.
The current monthly roll is up above $2 now somewhere in the 2.20 range. Second month is 1.50, third month is a buck. And frankly we think that is -- if this Cushing inventories continue to expand we can see that right now.
Jeff Dietert - Simmons and Company
You starting to see some influence on pricing of domestic crudes and other crude that are tied to WTI as far as steeper discounts for light/sweet?
W. Paul Eisman
It's interesting as what we are seeing is Cushing being depressed versus almost any other market. And you look at the comparable crudes, all the Gulf Cost maintained today to be $2 to 2.50 about the same crude quality that you see in Cushing and frankly that hurts us a little bit in terms of the light heavy differential. The Chicago refiners, who really don't have access to Cushing, tend to compare the cost of Canadian crude versus our Gulf Cost barrel. And, so that tends to hurt sometimes, the heavy, light heavy differential, you've seen that come in from $12 to about 10.50 today.
Jeff Dietert - Simmons and Company
And 10.50 is where you are seeing Canadian heavy discounts now?
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