Monthly Archives: August 2016

total supplies of everything oil jump 6.6 million barrels to another record as rig count drops

oil prices bounced around this week and ended somewhat lower, as news of increasing international oil production and the building domestic product glut dampened speculative buying on the unlikely prospect of an OPEC-Russian production freeze…the 7 day price rally that … Continue reading

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2nd estimate 2nd quarter GDP; July’s durable goods, new and existing home sales

the key economic release of the past week was the 2nd estimate of 2nd quarter GDP from the Bureau of Economic Analysis, which was released on Friday…other widely watched releases we saw earlier in the week included the July advance … Continue reading

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August 27th graphics

rig count summary: total oil + oil products inventory:

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oil production up by the most since last May, total supplies of oil & oil products at another record high..

oil prices rose with little interruption this week, largely on the ongoing talk about a possible Russian – OPEC agreement to freeze their oil output, although a falling US dollar (which makes internationally traded goods more expensive here) and a … Continue reading

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July consumer prices, industrial production, and new home construction

this week’s key reports were the July Consumer Price Index from the Bureau of Labor Statistics, the July report on Industrial Production and Capacity Utilization from the Fed, and the July report on New Residential Construction from the Census Bureau…other … Continue reading

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August 20th graphics

oil prices: total stocks: rig count summary:

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oil prices up on OPEC freeze rumors; rig count up most in a year, has biggest % jump in 23 years…

oil prices rose more than 6.4% this week and are now up nearly 14% from the low they hit the prior Tuesday, largely on renewed rumors that OPEC might negotiate a freeze of oil production at current levels…recall we’ve been … Continue reading

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