Monthly Archives: July 2017

oil prices rose every day this past week, in what ended up with the biggest weekly price increase so far this year…the rally started with news on Monday that OPEC had reached an agreement that Saudi Arabia, the Emirates and … Continue reading →

the key economic release of the past week was the 1st, or advance estimate of 2nd quarter GDP from the Bureau of Economic Analysis, which was accompanied by an annual revision to national accounts data over the prior three years….the … Continue reading →

rig count summary: crude oil supplies: oil prices: 2nd qtr GDP:

oil prices were mixed but modestly higher over the first four days of last week, hitting a 6 week high on Thursday, but then fell nearly two and a half percent on Friday to close below $46 a barrel for … Continue reading →

the June report on New Residential Construction from the Census Bureau was the only major monthly economic release of this week…the week also saw the release of the Regional and State Employment and Unemployment for June from the Bureau of … Continue reading →

rig count summary: oil imports via Saudi Arabia:

oil prices increased every day this week, rising $2.31 a barrel, or more than 5%, and as a result recovered almost all of what they lost in the short week following the Independence Day holiday…after falling $2.84 a barrel to … Continue reading →

most of the past week’s important reports were released on Friday, including Retail Sales for June and Business Sales and Inventories for May, both from the Census bureau, the June Consumer Price Index from the Bureau of Labor Statistics, and … Continue reading →

rig count summary: retail sales: OPEC production, official: OPEC production as reported: global oil production: global oil demand:

oil prices rose to a 4 week high on Monday, before the 4th of July holiday, but fell from there to end the week roughly 3.9% lower than where they closed last week…the $1.03 price increase to $47.01 a barrel … Continue reading →