Global Macro Perspectives
Contrary to books title which is in my view to extreme, this is balanced and well written book on today’s energy situation and all the accepts of finding, developing , using crude oil and it’s importance for civilization. I have stated my view on peek oil theory couple of times in my posts. I’ll repeat it once more: It is […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 4.6%. Supply still overweighting demand. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Interesting chart today in Bloomberg’s Chart of the Day by Norwegian Arctic Securities. A slowing merchant shipping fleet isconcealing capacity that will undermine the industry’s recoveryas world trade quickens, according to Arctic Securities ASA, anOslo-based investment bank. The biggest reduction occurred in container shipping, wherespeeds dropped by 20 percent from their peak, according toArctic estimates. […]
(For The Week Ending September 24, 2010) Working gas in storage rose 74 Bcf from previous week. Consensus was at 68 Bcf. Opposite to overwhelming negative historical stock market performance in September natural gas has overwhelmingly positive historical positive performance in September. Not this year. The risk here is skewed to the upside. Chart 1. Natural Gas Futures […]
(For The Week Ending September 24, 2010) Belisarius had a real bad time compiling this report today, as he is struggling to find purpose in hard work on this piece of analysis and apparent zero usefulness in trading. In short refinery utilization collapsed so we had a small gasoline draw, and the price of crude oil skyrocketed on that… Chart 1. […]
(For The Week Ending September 17, 2010) U.S. railroads originated 304,679 carloads, up 7.9% compared with the same week in 2009, but down 4.2% compared with 5-year average. Week over week change was +9.8% (due to Labor day). Chart 1. Association of American Railroads U.S. Freight Carloads Total
Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index fell 2.2%. Dead in the water. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending September 17, 2010) Working gas in storage rose 73 Bcf from previous week. Consensus was at 80 Bcf. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
For The Week Ending September 17, 2010) Crude oil stocks rose 1.0 million barrels for the week ending September 17, 2010; Gasoline stocks increased 1.6 million barrels; Distillate stocks were up 0.3 million barrels; Propane/propylene stocks remained unchanged; Other oils stocks were up 0.7 million barrels; Total crude oil and petroleum stocks were 2.9 million […]
In last 7 sessions Baltic Dry Index declined 14.5%. This is little bit surprising since with the start of new quarter lower iron ore price kicks in. Maybe holiday season (Mid Autumn Festival – from September 22 to September 24 and National Day – from October 1 to October 7)… Chart 1. Baltic Dry Index
(For The Week Ending September 10, 2010) U.S. railroads originated 277,000 carloads, up 5.4% compared with the same week in 2009, but down 9.7% compared with 5-year average. Week over week change was -9.0% (due to Labor day). Chart 1. Association of American Railroads U.S. Freight Carloads Total
Baltic dry index fell 10.7% last week; Capesize Index was down 13.7%; Panamax Index also fell 13.7%; Supramax Indexes fell 1.7%; Handysize Index rose 0.6%, China iron ore stockpiles moved sharply higher offsetting last week’s inventory draw. We will probably see increased demand with the start of new quarter and lower iron ore benchmark prices. Not much happening […]
Baltic Dirty Tanker Index fell 1.6%; Baltic Clean Tanker Index rose 2.1%. No improvements in supply/demand balance. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending September 10, 2010) Working gas in storage rose 103 Bcf from previous week. Consensus was at 93 Bcf. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
(For The Week Ending September 10, 2010) Crude oil stocks fell 1.9 million barrels for the week ending September 10, 2010; Gasoline stocks decreased 0.7 million barrels; Distillate stocks fell 0.3 million barrels; Propane/propylene stocks fell 0.2 million barrels; Other oils stocks were up 0.8 million barrels; Total crude oil and petroleum stocks were 2.9 […]