Monthly Archives: February 2021

natural gas supplies see 2nd largest drop on record as US burns 15% of inventories in one week; oil prices hit highest since 2019 as US oil exports drop most on record, oil production drop matches record; distillates’ output drops … Continue reading →

The key economic reports released during the past week were the 2nd estimate of 4th quarter GDP and the January report on Personal Income and Spending, both from the Bureau of Economic Analysis; other widely watched releases included the advance … Continue reading →

rig count summary:

US oil prices finished lower for the first time in three weeks last week, despite a 5% price spike midweek, as the same deep freeze that shut off US oil production also shut down US refineries, reducing demand for oil….after … Continue reading →

Major reports that were released this past week included the Retail Sales Report for January and the Business Sales and Inventories Report for December from the Census Bureau, the January report on Industrial Production and Capacity Utilization from the Fed, … Continue reading →

rig count summary: retail sales:

(*erroneously stated as a 45 week low last week) oil prices finished higher for a second straight week on progress towards a US economic stimulus package and on a big drop in US crude inventories….after rising 9% to $56.85 a … Continue reading →

Major reports released this week included the January Consumer Price Index and the January Import-Export Price Index from the Bureau of Labor Statistics, the December report on Wholesale Trade, Sales and Inventories from the Census Bureau, and the Job Openings … Continue reading →

rig count summary: OPEC output: global oil supply: global oil demand:

oil prices rose every day this week while rallying to a one year high​,​ on ongoing OPEC production cuts and on an economic stimulus package making its way through Congress….after inching down 0.1% to $52.20 a barrel last week as … Continue reading →