Monthly Archives: July 2022

US oil supplies at new 18 year low, Strategic Petroleum Reserve at a 37 year low, DUC wells at an all time low, DUC backlog at 4.4 months, lowest since March 2015 oil prices fell for the fourth time in … Continue reading →

There were just two widely watched reports released this past week: the June report on New Residential Construction from the Census bureau and the June report on existing home sales from the National Association of Realtors (NAR)…..the week also saw … Continue reading →

US oil supplies at new 18 year low, Strategic Petroleum Reserve at 36½ year low; largest drop in US gasoline and diesel demand since early 2020 lockdown, largest drop in US gasoline production this year; 1.49 million barrels per day … Continue reading →

Major reports that were released this week included the June Consumer Price Index, the June Producer Price Index, and the June Import-Export Price Index from the Bureau of Labor Statistics, the Retail Sales Report for June, and the Business Sales … Continue reading →

US oil prices fell for the 3rd week out of the past four on expectations that the coming recession would impact demand…after managing to salvage an 0.8% increase to $108.43 a barrel last week as production outages in Libya, Ecuador … Continue reading →

This week’s major agency issued economic releases included the Employment Situation Summary for Juneand the Job Openings and Labor Turnover Survey (JOLTS) for May, both from the Bureau of Labor Statistics, and three May reports that will input into 2nd … Continue reading →

After finishing June with the first monthly price drop since November, oil prices rallied Friday as production outages in Libya, Ecuador and Norway offset recession fears…after falling 0.3% to $107.62 a barrel last week as fears of a monetary policy … 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 →