WTI Falls >US$4/b Over The Last Week To US$77.30/b On Weakening China Demand. Global Economic, Political & Military Update The ending of President Biden’s candidacy for a second four year term has emboldened the Democrats that they could win the Presidency and end the worry of a clean sweep (Presidency, House and Senate) by the […]
Eye on Energy: July 24 Read More »
US Total Stocks Rose 11.1 Mb Last Week. This Should Put Pressure On Crude Prices. Global Economic, Political & Military Update The Republican National Convention is on this week and all of Trump’s former Presidential opponents are singing kumbaya and circling the wagons to get a fully united party to win the Presidency, the Senate
Eye on Energy: July 17 Read More »
US And China Crude Demand Sluggish. WTI Should Decline Below US$80/b In The Near Term. Global Economic, Political & Military Update The US Presidential election continues to keep observers riding a roller coaster as they watch the Democrats agonize over keeping current President Biden or forcing him to resign due to his age and mental
Eye on Energy: July 10 Read More »
US Commercial Stocks Fell Sharply Last Week Lifting WTI Prices. Exports Rose To 4.4 Mb/d. Global Economic, Political & Military Update Politics is front and center as the debate last week showed President Biden is not up to the job now and definitely not for a second term. Even members of his own party are
Eye on Energy: July 3 Read More »
Total US Energy Stocks Rose 9.4 Mb Last Week. WTI Crude Should Breach US$80/b In The Coming Days. Global Economic, Political & Military Update Mixed economic data continues to sway markets from euphoria to concern as each data piece is scrutinized for signs of economic progress with declining inflation or signs of economic weakness and
Eye on Energy: June 26 Read More »
Crude Prices Lift On Expectation Of Strong Summer Driving Season. We Are Skeptical! Global Economic, Political & Military Update Economic data in the US so far is not supportive of the Fed lowering their Fed Funds rate the three times previously assumed. The FOMC meeting last week concluded with officials penciling in just one rate
Eye on Energy: June 20 Read More »
Total US Stocks Grew 11.8 Mb Last Week. Lower WTI Prices Ahead. Global Economic, Political & Military Update Economic data in the US so far is not supportive of the Fed lowering their Fed Funds rate. Today’s CPI report was benign coming in at 3.4% for core, so the Fed is likely to continue its
Eye on Energy: June 12 Read More »
WTI Crude Plunges Over US$4/b to US$73.10/b As OPEC Plans To Open The Spigots In Q4/24. Global Economic, Political & Military Update OPEC’s announcement to gradually phase out the 2.2 Mb/d of quota cuts (starting October 1st) was not received well by the markets. In the details an agreement to give the UAE a 300
Eye on Energy: June 05 Read More »
Total US Inventories Grew By 13.2 Mb Last Week. Crude Prices Under Pressure. Global Economic, Political & Military Update Bearish commentary from the Fed meeting notes and repetitive comments by Fed officials that they see no reason to lower interest rates in the near term has spooked markets. There have even been some officials saying
Eye on Energy: May 30 Read More »
US Stock Build Adds To Downside Price Pressure. A Breach Of US$75/b Is Likely In The Near Term. Global Economic, Political & Military Update Market bulls lifted the Dow over 40,000 last week but worries about interest rates and Treasury record refundings have pulled it back to 39,800, a still overvalued level. Everyone is waiting
Eye on Energy: May 22 Read More »
