Monthly Archives: October 2019

largest drop in drilling activity in 6 months leaves oil rigs at a 30 month low, natural gas rigs at a 33 month low

oil prices rose more than 5% over the past week on a surprise drop in US crude supplies, a promise of deeper output cuts from OPEC, and hopes for a U.S.-China trade deal…after falling 92 cents or 1.7% to $53.78 … Continue reading

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September’s durable goods, new home sales and existing home sales

Widely watched reports released this past week included the advance report on durable goods for September and the September report on new home sales, both from the Census bureau, and the Existing Home Sales Report for September from the National … Continue reading

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table for October 26

rig count summary:

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natural gas supplies above average 1st time in 2 years; refineries slowest since Harvey; largest drop in DUC wells ever

oil prices ended modesty lower this week, largely on disappointment in the details of a proposed US-China trade deal and on a big jump in US oil supplies…after rising nearly 4% to $54.70 a barrel on the promise of further … Continue reading

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September’s retail sales, industrial production, & new housing construction; August’s business inventories

Major reports released this past week included Retail Sales for September and the corresponding Business Sales and Inventories report for August from the Census Bureau, Industrial production and Capacity Utilization for September from the Fed, the September report on New … Continue reading

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tables and graphs for October 19th

rig count summary: natural gas in storage: retail sales:

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global oil shortage at 3.38 million barrels per day in Sept as OPEC output fell 1.32 mbpd, non OPEC output fell 0.45 mbpd

oil prices ended higher this past week, as prospects for a US-China trade deal rallied financial ‚Äčand ‚Äčcommodity markets worldwide….after falling more than 5% to $52.81 a barrel on weak economic data and the Saudi’s production recovery last week, prices … Continue reading

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September’s consumer price and producer price indexes; August’s wholesale inventories and JOLTS

Major reports released this past week included the September Consumer Price Index, the September Producer Price Index, and the September Import-Export Price Index from the Bureau of Labor Statistics, which together give us most of the metrics needed to adjust … Continue reading

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tables and graphs for October 12

rig count summary: OPEC production, self reported: OPEC production, official: global oil supply: global oil demand:

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largest September addition to natural gas in storage on record; drilling for natural gas falls to 32 month low

oil prices saw their largest weekly drop since mid-July on weak economic data, but managed to break an eight day losing streak on Friday when the September employment report was not as bad as some feared…after falling 3.6% to $55.91 … Continue reading

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