Monthly Archives: June 2019

oil prices rose for a second week on ongoing hostilities between the US and Iran and the largest drawdown of US crude inventories in nearly 3 years, while oil traders held back awaiting the outcome of the Trump-Xi summit in … Continue reading →

The key economic releases of the past week were the 3rd estimate of 1st quarter GDP from the Bureau of Economic Analysis and the May report on Personal Income and Spending, also from the BEA, which includes two months of … Continue reading →

rig count summary: oil exports: crude & product inventories:

oil prices saw their largest weekly jump since 2016 this past week after Iran shot down a sophisticated US spy drone which the US claims was operating in international air space and oil traders braced for a US retaliation…after falling … Continue reading →

The only widely watched reports that were released over the past week were the May report on New Residential Construction from the Census Bureau and the May report on existing home sales from the National Association of Realtors (NAR)….this week … Continue reading →

rig count summary: temperature anomalies:

oil prices fell for the 3rd week in four this week, despite an attack on oil product tankers near the Strait of Hormuz that had all the earmarks of a false flag operation by one of the US allies in … Continue reading →

Major reports released during the past week included the May Consumer Price Index, the May Producer Price Index, and the May Import-Export Price Index, all from the Bureau of Labor Statistics; the reports on Retail Sales for May and Business … Continue reading →

retail sales: rig count summary: OPEC production: global oil output: global oil demand:

oil prices managed to eke out a small increase this week, but not before hitting a new 5-month low and crashing into a bear market mid-week…after falling 9% to $53.50 a barrel last week after Trump had threatened new tariffs … Continue reading →