Monthly Archives: June 2020

oil prices fell for the 2nd week in the past three this week, on a resurgence of covid-19 cases in the US and globally, which threatened the chance for an economic recovery…after rising nearly 10% to $39.75 a barrel last … 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: natural gas prices: natural gas prices max history:

May’s surplus oil output was at 8.6 million barrels per day, despite OPEC cuts of 6.3 million bpd; US wells drilled and wells completed were lowest on record; the DUC backlog was 16.5 months; US offshore rigs were at a … Continue reading →

Major releases of the past week included the reports on Retail Sales for May and Business Sales and Inventories for April, both from the Census bureau; the report on Industrial Production and Capacity Utilization for May from the Fed, and … Continue reading →

retail sales: rig count summary: OPEC’s May oil output: global oil supply:   global oil demand:

oil prices fell this week for the first time in seven weeks on fears that a second wave of the coronavirus would damage the embryonic economic recovery….after rising 11% to $39.55 a barrel last week on improving US economic data … Continue reading →

Major reports released during the past week included the May Consumer Price Index, the May Producer Price Index, the May Import-Export Price Index, and the Job Openings and Labor Turnover Survey (JOLTS) for April, all from the Bureau of Labor … Continue reading →

rig count summary: mortgage delinquency rate by property value:

oil prices rose for a sixth straight week to close at a 3 month high this week on improving US economic data and on hopes that OPEC would announce an extension of their production cuts at a meeting rescheduled for … Continue reading →