Global Macro Perspectives
Working gas in storage fell 266 Bcf from the previous week. The cold weather depletes stocks at a surprising rate. An interesting situation, potential long opportunity. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range
Crude oil stocks rose 3.3 million barrels for week ending 8 January; Gasoline stocks increased for 3.9 million barrels; Distillate stocks gained 1.4 million barrels; Propane/propylene stocks fell 3.5 million barrels; Other oils were down 3.2 million barrels; Total crude oil and petroleum stocks increased 3.5 million barrels. Refinery utilization remained surprised to the upside […]