Global Macro Perspectives
Crude oil stocks fell 0.5 million barrels for week ending 15 January; Gasoline stocks increased for 4 million barrels; Distillate stocks decreased 3.3 million barrels; Propane/propylene stocks fell 4.8 million barrels; Other oils were down 0.2 million barrels; Total crude oil and petroleum stocks fell 1.6 million barrels. Refinery utilization surprised to the downside reaching […]
Working gas in storage fell 245 Bcf from the previous week. In the strange twist of events we are coming from storage being 100% full to possibly empty storage at the end of the winter.From fundamental side a even more compelling long. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared […]
This is huge, if it is implemented. No propitiatory trading operations No hedge fund investments No private equity funds investments 11:34 A.M. EST THE PRESIDENT: Good morning, everybody. I just had a very productive meeting with two members of my Economic Recovery Advisory Board: Paul Volcker, who’s the former chair of the Federal Reserve Board; […]
The focus on China continues. China statistic bureau reported China economy grew 10.7%. Bloomberg story: China’s GDP Growth Accelerates to Fastest Since 2007. The market focused on what wasn’t told in the report. Apparently the press release was missing the references to keeping “moderately loose monetary policy” and a “proactive fiscal policy”. The intense to […]