Monthly Archives: July 2018

oil in deep backwardation; natural gas supplies 20% below normal, oil supplies at lowest in 41 months, record DUCs..

while US oil prices were down from last week’s final quote for the 4th week in a row, the current front month oil contract managed to eke out a small increase over this past week…as the expiring US crude contract … Continue reading

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2nd quarter GDP and comprehensive revision; June’s durable goods, new home sales, existing home sales

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 a benchmark revision to national accounts data over their entire history….the other … Continue reading

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tables and graphs for July 28th

rig count summary:   oil futures prices:

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EIA projects a 10 year low for pre-winter natural gas supplies; oil imports at 16 mo high after biggest jump in 18 months; distillate supplies at a 14 year seasonal low, et al

oil prices ended lower for the third week in a row, mostly due to a big selloff on Monday….after falling $2.84, or 3.8% to $71.01 a barrel last week on the resumption of Libyan oil exports, US crude for August … Continue reading

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June’s retail sales, industrial production and new housing construction; May’s business inventories

major reports that were released this week included Retail Sales for June, the Business Sales and Inventories Report for May, and the June report on New Residential Construction, all from the Census Bureau, and the June report on Industrial Production … Continue reading

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tables and graphs for July 21st

rig count summary: EIA gas storage forecast: distillates supplies: retail sales:

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US gasoline output at a record high, oil supplies at a 41 mo. low; global oil output up in June after May revised lower

oil prices ended sharply lower this week, after hitting an air pocket and dropping more than 5% on Wednesday, on the back of the announcement of the resumption of Libyan oil output…after falling a half percent to $73.80 a barrel … Continue reading

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