U.S. Natural Gas Weekly – July 8, 2010
Working gas in storage rose 78 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
Archive for the ‘Commodities’ Category
Baltic Dry Index Falls 3.9% To 1940
Another move to the downside. Chart 1. Baltic Dry Index
Baltic Dry Index Falls 5.1% To 2018
It just keeps going lower….if it continues for a just a couple days it will look as a rerun of a BDI performance as recession started. And we all know what happened than… Chart 1. Baltic Dry Index
346 Tons Of Gold On BIS Balance Sheet
The big news point of the day is a newly discovered 346 tons of gold on Bank for International Settlements (BIS) balance sheet. The information can be found in a footnote in the BIS’s annual report. Page 163. Included in “Gold bars held at central banks” is SDR8,160.1 million (346 tonnes) (2009: nil) of gold, which theBank held in connection […]
Chinese Steel Mills To Default On Quarterly Iron Ore Contracts
From Metal Bulletin: Quarterly, spot or swap — which iron ore contract to choose? Tom Albanese’s admission that Rio Tinto may abandon quarterly iron ore pricing, should the majority of steel mills default to the spot market, could benefit the emerging market for over-the-counter iron ore swaps. Macquarie Research believes third quarter contract prices will be […]
Rig Count Weekly July 5, 2010
Number of oil drilling rigs rose for 4 for the week ending July 2, 2010; Number of natural gas drilling rigs rose for 2 rigs in the same time frame. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
Dry Bulk Weekly – July 4, 2010
Baltic dry index fell 8.8% last week; The hardest hit were Panamaxes with 19.6% loss; Supramaxes lost 6.0% ; Handysizes and Capesizes lost 5.4% and 3.3% . It looks like the Baltic Dry Index was not bottoming last week after all. Panamaxes which were more stable sector than the Capsize sector played catchup and collapsed. That was not […]
Tanker Weekly – July 4, 2010
Baltic Dirty Tanker Index fell 9.4%; Baltic Clean Tanker Index rose 8.0%. Dirty rates falling on abundant supply (multiple ships competing for a single cargo), clean rates rebounding on increased hauling of petrochemical cargoes. The drop in demand for crude oil is another factor confirming economic slowdown. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
U.S. Natural Gas Weekly – July 2, 2010
Working gas in storage rose 60 Bcf from previous week. Supply weakening. This could get very interesting soon. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
U.S. Petroleum Weekly – June 17, 2010
Crude oil stocks fell 2.0 million barrels for week ending June 25; Gasoline stocks rose 0.5 million barrels; Distillate stocks increased 2.5 million barrels; Propane/propylene stocks rose 1.6 million barrels; Total crude oil and petroleum stocks were 3.6 million barrels higher than the week before. Refinery utilization fell from 89.4% to 88.4%. Implied crude oil […]
China Scaling Back Steel Capacity Additions
Bloomberg story: Baosteel Scales Back Expansion Target by 38% as China Seeks Capacity Curbs. China, the biggest steelmaking nation, has pulled back from encouraging mills to get as large as global leader ArcelorMittal as it sought to shutter old plants, curb pollution and power demand. Chinese steelmakers are likely to cut output in the third […]
Dry Bulk Weekly – June 26, 2010
Baltic dry index fell 7.2% last week; The hardest hit, again, were Capesizes with 13.3% loss; Supramaxes and Handysizes lost 4.9% and 5.2%; Panamaxes gained 2.2% . It looks the baltic dry index is bottoming. The action was in the capesize sector, so Chinese iron ore demand is the game as a consequence of reduced steel margins . Panamax […]
U.S. Natural Gas Weekly – June 24 2010
Working gas in storage rose 81 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
U.S. Petroleum Weekly – June 23, 2010
Crude oil stocks rose 2.0 million barrels for week ending June 18; Gasoline stocks fell 0.8 million barrels; Distillate stocks increased 0.3 million barrels; Propane/propylene stocks rose 1.1 million barrels; Total crude oil and petroleum stocks were 2.7 million barrels higher than the week before. Refinery utilization rose from 87.9% to 89.4%. Crude oil and […]
Rig Count Weekly June 7, 2010
Number of oil drilling rigs rose for 13 for the week ending June 18, 2010; Number of natural gas drilling rigs fell for 1 rig in the same time frame. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count ose