Monthly Archives: January 2017

Trump orders expedited approval of Keystone XL and Dakota Access pipelines, US gasoline demand at another 35 month low, et al

as you’ve probably heard, Mr Trump has been quite busy this week.  among several other actions, he signed two diktats on Tuesday to advance the construction of the Keystone XL and the Dakota Access pipelines, both of which had been … Continue reading

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4th quarter GDP; December durable goods, new home sales, existing home sales

the key economic release of the past week was the 1st estimate of 4th quarter GDP from the Bureau of Economic Analysis; other widely watched releases included the advance report on durable goods for December and the December report on … Continue reading

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January 28th graphics

rig count summary: 4th quarter GDP:

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new OPEC report; US gasoline demand at a 35 mo low; largest rig increase in 45 months, DUCs increase

oil prices were little changed over the week, despite a sharp drop over the first 3 days and a subsequent recovery before the weekend….the February US oil contract, which closed last week at $52.37 a barrel, closed this week up … Continue reading

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December CPI and its effect on PCE, December industrial production and new home construction

the major reports released this week were the December Consumer Price Index from the Bureau of Labor Statistics, the December report on Industrial Production and Capacity Utilization from the Fed, and the November report on New Residential Construction, from the … Continue reading

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graphics for January 21st

Saudi production: Russian production: OPEC production: OPEC production: US gasoline consumption: miles driven: rig count summary:

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US oil imports highest since Sept 2012, refining at all time high, US rigs down, global rigs up, Canadian rigs up 110

the OPEC inspired oil rally finally ran out of steam this week, as oil prices retreated for the first time in 5 weeks, and by the most in 11 weeks…after closing at $53.99 a barrel last Friday, oil prices fell … Continue reading

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