U.S. Freight Carloads Weekly – April 8, 2011
U.S. railroads originated 305,905 carloads, up 5.4% compared with the same week in 2010 and up 1.4% compared with 5-year average. Week over week change was 2.0%.
Archive for the ‘Commodities’ Category
U.S. Natural Gas Weekly – April 8, 2011
Working gas in storage fell 45 Bcf from previous week. The consensus was at 52 Bcf.
Storage level is 90 Bcf lower than same time year ago and bellow 5-year average
Worst performing commodity, keeping close watch, but no signs that will change in the near future (jet).
U.S. Petroleum Weekly – April 7, 2011
Main development since latest weekly is realization that light sweet Libyan crude can’t really be substituted by Saudi Arabia and market is in short supply.
Additional to Libyan war, we have unrest in Yemen, strikes in Gabon and postponed elections in Nigeria. Combined these three countries produce 2.8 million bbl of light sweet crude per day.
Absent of a stock market crash, crude oil is bound only up.
Rig Count Weekly – April 4, 2011
Number of crude oil drilling rigs rose for 26; Number of natural gas drilling rigs rose for 11.
U.S. Freight Carloads Weekly – April 4, 2011
U.S. railroads originated 299,903 carloads, up 2.3% compared with the same week in 2010 and up 0.4% compared with 5-year average. Week over week change was 2.1%.
Dry Bulk Weekly – April 4, 2011
Baltic dry index fell 4.1% last week; Capesize Index was down 0.7%; Panamax Index fell 7.4%; Supramax Index was down 5.7%; Handysize Index was up 0.9%.
Strong coal demand in China and increased iron ore demand ahead India monsoon season could support rates. Beside that the market is well supplied and nothing major happening.
Tanker Weekly – April 4, 2011
Baltic Dirty Tanker Index fell 2.8%; Baltic Clean Tanker Index rose 0.7%.
Activity increased on Libyan oil substitution, rated steady despite more demand.
U.S. Freight Carloads Weekly – March 25, 2011
U.S. railroads originated 393,772 carloads, up 2.1% compared with the same week in 2010 and down 3.1% compared with 5-year average. Week over week change was 0.6%.
U.S. Petroleum Weekly – March 24, 2011
I was wrong on the assumption that West will let Gaddafi win the war in Libya. U.N. approved military intervention will keep the Libyan oil out of the markets for longer then previously thought. This is positive for crude oil price.
Concerning Japan it is reasonable to assume increased derivatives demand, also positive for oil price.
In the U.S. the gasoline draw is looking quite impressive (although it is not demand driven, rather a product of refiner discipline). This could help clear Cushing stockpile glut and close the WTI – Brent pricing gap.
Dry Bulk Weekly – March 21, 2011
Baltic dry index fell 2.0% last week; Capesize Index was down 10.8%; Panamax Index fell 1.8%; Supramax Index rose 2.9%; Handysize Index was up 3.4%.
To repeat: Judging from increase in dry bulk rates and an end of raw materials stockpiling economic activity in China is accelerating after the holidays.
Rig Count Weekly – March 21, 2011
Number of crude oil drilling rigs rose for 12; Number of natural gas drilling rigs fell for 7.
U.S. Freight Carloads Weekly – March 18, 2011
U.S. railroads originated 392,164 carloads, up 1.5% compared with the same week in 2010 and down 3.7% compared with 5-year average. Week over week change was -2.9%.
U.S. Natural Gas Weekly – March 18, 2011
Working gas in storage fell 56 Bcf from previous week. The consensus was at 42 Bcf.
Storage level is 3 Bcf higher than same time year ago.
Japanese nuclear disaster could be a game changer for natural gas as LNG cargoes bound for the U.S. could be diverted to Japan. This could clear the oversupply glut.
U.S. Petroleum Weekly – March 17, 2011
Libya is out of the markets, but judging from the recent events the rebels are on the brink of defeat and since world needs oil purchases of Libyan crude could resume in following months.
Focus in the last few days has shifted to Bahrain, there also the ruling regime is succeeding to restore order using extremely violent measures.
The biggest question is the demand impact of Japanese earthquake, tsunami and nuclear disaster. I believe that short term demand shock is widely underestimated, but for the time being and despite the fundamental facts mentioned above I believe crude oil is bound to rise on all of this uncertainty.
Dry Bulk Weekly – March 14, 2011
Baltic dry index rose 16.0% last week; Capesize Index was up 32.5%; Panamax Index rose 7.5%; Supramax Index increased 4.2%; Handysize Index was up 3.7%.
Judging from increase in dry bulk rates and an end of raw materials stockpiling economic activity in China is accelerating after the holidays. Iron ore, steel and thermal coal prices down on increased stockpiles.