Global Macro Perspectives
Baltic dry index fell 2.2% last week, this time on the back of 10.1% Capesize Index loss. Panamax, Supramax and Handysize Index all recorded gains and outperformed the broader index. We had weaker spot iron ore prices, weaker China steel prices and higher iron ore and thermal coal stockpiles. Capesize activity decreased in the recent […]
Baltic Dirty Tanker Index rose 1.8%; Baltic Clean Tanker Index fell 2.7%. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Working gas in storage rose 76 Bcf from previous week. Some signs of increased power generation demand arised, interesting times, maybe a entry point developing. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
Belisarius is kind of tied up with his day job in the last few days, so my posting is not as timely as usual. Crude oil stocks and derivatives stocks were mostly unchanged for the week ending May 14. Refinery utilization fell from88.4% to 87.9%. Crude oil and petroleum product net imports were fell to […]
We had 16 more oil drilling rigs operating and 2 natural gas operating rigs less for the week ending May 14 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
Another strong week for dry freight. Baltic dry index rose 8.9% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index suggesting that iron ore is the game. On the positive side we have China steel inventory coming off, decreased China […]
Baltic Dirty Tanker Index rose 10.3%; Baltic Clean Tanker Index rose 1.1%. International Energy Agency (IEA) reduced demand figures (especially on the call for OPEC crude and estimates of increased OECD stocks day cover) did not lower the rates, just contrary. Strong dirty and soft clean rates could again be a sign of weak demand […]
Working gas in storage rose 94 Bcf from previous week. Well, the storage will probably be record full before the heating season. 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 1.9 million barrels for week ending May 7; Gasoline stocks fell 2.8 million barrels; Distillate stocks increased 1.4 million barrels; Propane/propylene stocks rose 2.8 million barrels; Other oils stocks were up 1.9 million barrels; Total crude oil and petroleum stocks were 3.4 million barrels higher than the week before. Refinery utilization […]
We had 15 more oil drilling rigs operating and 5 natural gas operating rigs less for the week ending May 7 in the U.S. On world scale, we had 60 more drilling rigs in April. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes […]
Baltic dry index rose 7.6% last week, again on the back of 10.5% Capesize Index gain. Panamax, Supramax and Handysize Index also recorded gains, but underperformed the broader index. Strong iron ore demand from China is fueling the gains. If financial turmoil continues, the gains will be hard to hold on. Chart 1. Baltic Dry […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 1.3%. No mayor freight rate moves despite financial turmoil. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Working gas in storage rose 83 Bcf from previous week. The price is not reacting, so maybe we have a short-term bottom. 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 2.8 million barrels for week ending April 30; Gasoline stocks increased 1.3 million barrels; Distillate stocks rose 0.6 million barrels; Propane/propylene stocks increased 1.8 million barrels; Other oils stocks rose 1.5 million barrels; Total crude oil and petroleum stocks were 9.8 million barrels higher than the week before. Refinery utilization rose […]
The total number of drilling rigs operating in North America rose for 1 rig. Number of natural gas drilling rigs rose for 2 rigs; number of crude oil rigs fell for 1 rig. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World […]