Monthly Archives: November 2021

oil prices drop 13% on new Covid variant; Strategic Petroleum Reserve at a 18 year low as US plans further withdrawals; another 48 month low for gasoline inventories; a 23 month low for distillate inventories, and an 82 month low … Continue reading →

The key economic reports released this week were the 2nd estimate of 3rd quarter GDP and the October report on Personal Income and Spending, both from the Bureau of Economic Analysis; other widely watched releases included the Advance Report on … Continue reading →

gasoline supplies at a 48 month low, distillate supplies at a 19 month low; total inventories of oil and all oil products at a 79 month low; DUC backlog at 5.9 months as completions slip; record low DUCs in Appalachia, … Continue reading →

Major reports released this week included Retail Sales Report for October and the associated Business Sales and Inventories Report for September, both from the Census Bureau, the October report on Industrial Production and Capacity Utilization from the Fed, and the … Continue reading →

natural gas price falls 13% to a 9 week low; gasoline supplies drop to another 47 month low despite diminishing demand; distillate supplies at a 19 month low; global oil shortage at 1,930,000 barrels per day in October as OPEC’s … Continue reading →

The major reports released this past week were the October Consumer Price Index, the October Producer Price Index, the October Import-Export Price Index, and the Job Openings and Labor Turnover Survey (JOLTS) for September, all from the Bureau of Labor … Continue reading →

oil prices finished lower for a second week following a record nine straight weeks of higher prices, as domestic crude oil inventories grew much more than was expected for a second consecutive week…after slipping 0.2% to $83.57 a barrel last … Continue reading →

Major economic reports that were released the past week included the Employment Situation Summary for October from the Bureau of Labor Statistics, and three September reports that included metrics which were either estimated or included in last week’s release of … Continue reading →

oil prices slipped slightly this week for the first time in ten weeks on higher domestic supplies and on prospects for Iranian crude exports, but still posted new seven year highs intraday on Monday and at Tuesday’s close…after rising 2.5% … Continue reading →

The key economic reports that were released this week were the 1st estimate of 3rd quarter GDP and the September report on Personal Income and Spending, both from the Bureau of Economic Analysis ….the week also saw the release of … Continue reading →