This Week in Energy — November 12, 2026

The Tip Desk · This Week in Energy · November 12, 2026 · 2 min read

U.S. distillate stocks increased and crude price averages fell. Summit approved a gas pipeline expansion, while Enbridge reported an October gathering acquisition and sanctioned an Alberta project.

U.S. distillate fuel oil inventories rose by 4.1 million barrels in the week ended Nov. 6 to 103.3 million barrels, according to the Energy Information Administration. Refinery utilization increased to 95.2% of operable capacity from 94.5% a week earlier.

WTI at Cushing averaged $91.00 a barrel across the four available trading days from Nov. 6 through Nov. 11, $7.61 below the prior week's average. Brent Europe spot crude averaged $92.79 a barrel over the same days, $12.08 below the preceding week's average. Each earlier average covered five trading days; the latest averages do not represent a complete week.

In its Nov. 9 third-quarter results, Occidental attributed a sequential decline in oil-and-gas pretax income, excluding items affecting comparability, primarily to lower realized crude prices, partly offset by higher domestic natural gas prices. Global production exceeded the midpoint of its guidance.

Summit Midstream reached a final investment decision on its Double E Mainline Compression Expansion, it announced Nov. 9. Third-quarter throughput on Double E increased 17% from the second quarter to a record 1,002 million cubic feet a day. Summit said it remained on track to fully subscribe the pipeline's remaining forward-haul capacity by year-end. Its Rockies operations also recorded a 40% sequential increase in liquids throughput, with 51 new wells coming online across the Williston and DJ basins.

Enbridge's Nov. 6 update reported the October completion of its acquisition of Salt Creek Midstream's crude gathering business in the Delaware basin. The company said those assets, combined with its Gray Oak Pipeline and Ingleside export terminal, create a route from the wellhead to export. Enbridge also sanctioned its Long Lake Expansion in Alberta, comprising a new lateral pipeline and storage tank and added capacity on the Waupisoo and Wood Buffalo Extension pipelines. The company expects the project to enter service in 2028.