Monthly Archives: January 2024

This week’s key reports were the advance estimate of 4th quarter GDP and the December report on Personal Income and Spending, both from the Bureau of Economic Analysis; other widely watched reports included the advance report on durable goods for … Continue reading →

US gasoline production at a 35 month low, gasoline supplies at 35 month high; gasoline demand at a 54 week low, distillates production at a 55 week low, after Gulf Coast refineries freeze; DUC well backlog unchanged at 4.7 months. … Continue reading →

natural gas prices drop 24%, the most in 2 years; US gasoline supplies at a 101 week high, distillates supplies a 124 week high; global oil supply was 2,280,000 barrels per day short of global demand in December, with OPEC’s … Continue reading →

Major reports that were released this past week included the Advance Retail Sales Report for December and the accompanying Business Sales and Inventories report for November from the Census Bureau, the December Import-Export Price Index from the Bureau of Labor … Continue reading →

Major agency reports that were released the past week included the December Consumer Price Index and the December Producer Price Index, both from the Bureau of Labor Statistics (BLS), the November report on our International Trade from agencies within the … Continue reading →

US oil prices fell for a second week in three​, despite escalating Mideast ​violence, after the Saudis cut prices for their exports to Asia by $2…after rising 3% to $73.81 a barrel last week on widespread unrest in the Middle … Continue reading →

natural gas prices see biggest weekly percentage gain since mid-June despite highest year end inventories since 2015; largest addition to Strategic Petroleum Reserve in 42 months; record jump in gasoline supplies despite biggest drop in gasoline production in 12 months … Continue reading →

Major economic reports released the past week were the Employment Situation Summary for December and the Job Openings and Labor Turnover Survey (JOLTS) for November, both from the Bureau of Labor Statistics (BLS), and the November report on Construction Spending … Continue reading →

US oil prices fell for the eighth time in ten weeks as major shippers returned to the Red Sea and ​the Suez Canal, and fears of further disruptions to shipping subsided in the face of one of the largest multinational … Continue reading →