Monthly Archives: March 2021

oil prices fell for the third week in a row, after rising 80% over the prior 18 weeks, as new Covid infections and lockdowns increased worldwide…after falling 6.4% to $61.42 a barrel last week on rising tension between Biden and … Continue reading →

The key economic reports released the past week were the 3rd estimate of 4th quarter GDP and the February report on Personal Income and Spending from the Bureau of Economic Analysis; other widely watched releases included the advance report on … Continue reading →

rig count summary:

oil prices tumbled by the most in 5 months this week on rising tension between Biden and Putin, and on a new wave of Covid infections across Europe…after slipping 0.7% to $65.61 a barrel last week in an inevitable correction … Continue reading →

Major monthly reports released over the past week included the Retail Sales report for February and Business Sales and Inventories for January from the Census Bureau, the February report on Industrial Production and Capacity Utilization from the Fed, and the … Continue reading →

rig count summary: retail sales:

refinery throughput was 5th lowest in 32 years even after a record increase in refinery throughput; distillate exports at 11 year low, domestic distillate demand at a 16 month high; OPEC report shows February oil supplies fell short of demand … Continue reading →

Major reports released this week included the February Consumer Price Index, the February Producer Price Index and the Job Openings and Labor Turnover Survey (JOLTS) report for January, all from the Bureau of Labor Statistics, and the January report on … Continue reading →

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

​refinery utilization at an all time low, 10% lower than it’s ever been; oil refined is least on record; record jum​p in oil inventories, record drop in gasoline inventories; distillates production at a 26 year low, distillates inventories drop most … Continue reading →