Global Macro Perspectives
Baltic dry index fell 18.1% last week; The hardest hit, again, were Capesizes with 26.7% loss. Panamaxes lost 11.3% ; Supramaxes and Handysizes lost 7.4% and 6.5%. China and Taiwan were on holiday from Monday to Wednesday, seasonal weakness and new-buildings hitting the markets all contributed to the dry freight rates falling. Will we have more than a seasonal weakness remains to […]
Working gas in storage rose 87 Bcf from previous week. Supply still strong. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
Crude oil stocks rose 1.7 million barrels for week ending June 11; Gasoline stocks fell 0.6 million barrels; Distillate stocks increased 1.8 million barrels; Propane/propylene stocks rose 2.2 million barrels; Total crude oil and petroleum stocks were 4.4 million barrels higher than the week before. Refinery utilization fell from 89.1% to 87.9%. Implied demand fell […]
Number of oil drilling rigs rose for 16 rigs for the week ending June 11, 2010; Number of natural gas drilling rigs rose for 7 rigs in the same time frame. On world scale number of drilling rigs rose for 50 rigs in May. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly […]
Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index rose 1.6%. U.S. gulf / Europe arbitrage showing some signs of life; but overall the demand for wet transport is weak. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Working gas in storage rose 99 Bcf from previous week. The natural gas price got a little ahead of itself on drilling ban. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
Crude oil stocks fell 1.8 million barrels for week ending June 4; Gasoline stocks remained flat; Distillate stocks increased 1.8 million barrels; Propane/propylene stocks rose 1.2 million barrels; Total crude oil and petroleum stocks were 0.4 million barrels lower than the week before. Refinery utilization rose from 87.5% to 89.1%. Implied demand flat. Crude oil […]
Number of oil drilling rigs fell for 10 for the week ending June 4, 2010: Number of natural gas drilling rigs fell for 20 rigs in the same time frame. Offshore drilling ban is a reason for a this kind of a drop. The number of offshore drilling rigs fell for 24, out of which 23 were […]
Baltic dry index fell 5.7% last week; The hardest hit sectors was Panamaxes with 8.7% loss and Supramaxes with 8.1% loss; Capesizes and Handysizes lost 2.1% and 3.5%. Expectations running high, stockpiles high, financial crisis threatening to cause a economic crisis. Iron ore prices sliding. It looks the things are slowing down in China. On the other hand ship prises rose […]
We had 17 more crude oil drilling rigs operating and 2 natural gas operating rigs less for the week ending May 28 in the U.S. 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
Baltic dry index rose 6.1% last week, again Capesizes giving the direction with 20.8% gain. Panamax, Supramax and Handysize Index all recorded losses and underperformed the broader index. China Iron ore stockpiles again rising, Capesize rates probably fueled by coming India rain season which makes iron ore exports virtually impossible, so buyers have to turn […]
Baltic Dirty Tanker Index fell 13.6%; Baltic Clean Tanker Index fell 4.5%. With trans-Atlantic product arbitrage being dead and world commodity markets rocking, the only possible route for the over-supplied market is down. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Working gas in storage rose 104 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
Crude oil stocks rose 2.5 million barrels; Other oils stocks rose 1.6 million barrels; Other category of stocks were mostly unchanged for the week ending May 21. Refinery utilization fell from 87.9% to 87.8%. Crude oil and petroleum product net imports rose to 11 million barrels. All categories of petroleum stocks are still at extremely […]
We had 18 more natural gas drilling rigs operating and 6 crude oil operating rigs less for the week ending May 21 in the U.S. 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