Monthly Archives: March 2023

biggest drop in gasoline supplies in 18 months; DUC well backlog at 4.9 months

Posted on March 28, 2023 by rjsigmund

US oil prices rose last week as oil traders refocused on supply and demand fundamentals after the prior week’s panic sell-off…after falling 13% to a 15 month low of $66.74 a barrel last week in the wake of the second … Continue reading →

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February’s durable goods, new and existing home sales

Posted on March 27, 2023 by rjsigmund

Widely watched reports released the past week included the advance report on durable goods for February and the February report on new home sales, both from the Census bureau, and the Existing Home Sales Report for February from the National … Continue reading →

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oil prices at 15 month low after biggest weekly drop since April 2020; oil rigs at 9 month low; global oil surplus at 620,000 bpd

Posted on March 19, 2023 by rjsigmund

oil prices fell to a 15 month low on the biggest weekly drop since the pandemic hit; oil drilling at 9 month low; global oil production exceeded demand by 620,000 barrels per day in February, despite OPEC production that was … Continue reading →

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February’s consumer and producer prices, retail sales, industrial production, & housing construction; January’s business inventories

Posted on March 19, 2023 by rjsigmund

Major monthly reports released over the past week included the February Consumer Price Index, the February Producer Price Index and the February Import-Export Price Index, all from the Bureau of Labor Statistics, the Retail Sales report for February and the … Continue reading →

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record change in EIA crude oil balance sheet error renders US oil data comparisons nonsense; oil rigs at a 6 month low

Posted on March 12, 2023 by rjsigmund

EIA reports 1st oil supply draw in 11 weeks after a record supply to demand change in their crude oil balance sheet error; oil drilling rig activity is at a 6 month low.. US oil prices fell for the third … Continue reading →

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February’s jobs report; January’s trade deficit, factory inventories, wholesale sales, and JOLTS

Posted on March 12, 2023 by rjsigmund

This week’s major releases included both major monthly jobs reports: the Employment Situation Summary for February and the Job Openings and Labor Turnover Survey (JOLTS) report for January, both from the Bureau of Labor Statistics, and three reports that will … Continue reading →

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record oil exports; industry oil supplies at 21 month high after 2.266 million bpd of oil appear; oil rigs at 6 month low

Posted on March 6, 2023 by rjsigmund

US commercial crude supplies at a new 21 month high despite record high oil exports after 2.266 million new barrels per day of unknown origin appear; drilling for oil is at a 25 week low US oil prices rose for … Continue reading →

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January’s construction spending & durable goods

Posted on March 6, 2023 by rjsigmund

There were just two major reports released this week; both of which will provide source data for 1st quarter GDP: the January report on Construction Spending and the Advance Report on Durable Goods Manufacturers’ Shipments Inventories and Orders for January, … Continue reading →

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