Global Macro Perspectives
Working gas in storage fell 172 Bcf from the previous week. Cold weather is helping the stockpiles draw, but the spring is nearing fast. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range
Crude oil stocks rose 3.0 million barrels for week ending 19 February; Gasoline stocks decreased for 0.9 million barrels; Distillate stocks fell 0.6 million barrels; Propane/propylene stocks decreased 2.3 million barrels; Other oils fell 1.1 million barrels; Total crude oil and petroleum stocks rose 1.4 million barrels. Refinery utilization rose from 79.8% to 81.2%. Crude […]
Baltic Dirty Tanker Index fell 2.4% last week while Baltic Clean Tanker Index fell 3.8%. Similar as in dry bulk everybody waits for Chinese buyers/charterers to return to markets. With winter season being nearly over we will probably have a seasonal weakness here till at least April when driving demand kicks in. Chart 1. Baltic […]
Baltic dry index rose 5.6% in the last week. Capesize Index outperformed the BDI, Panamax Index was in line, while Supramax and Handysize Index underperformed. The market action seems like a result of market participants fixing Capesize vessels in anticipation of China return to the markets after the this week New Year celebration and on […]
Crude oil stocks rose 3.1 million barrels for week ending 12 February; Gasoline stocks increased for 1.6 million barrels; Distillate stocks fell 2.9 million barrels; Propane/propylene stocks decreased 2.9 million barrels; Other oils were flat; Total crude oil and petroleum stocks fell 2.4 million barrels. Refinery utilization rose from 79.1% to 79.8%. Crude oil and […]
Working gas in storage fell 190 Bcf from the previous week. Cold weather is helping the stockpiles draw, but we are still above both last year and 5 year average levels. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range
Baltic dry index fell 5.3% in the last week. Panamaxes outperformed the BDI, while Capesizes underperformed. For the time being dry freight weakness is due the slowdown of Chinese imports because of Chinese New Year and accompanying. This is also a reason for Capesize underperformance because this type of ships usually haul iron ore and […]
Crude oil stocks rose 2.4 million barrels for week ending 5 February; Gasoline stocks increased for 2.3 million barrels; Distillate stocks fell 0.4 million barrels; Propane/propylene stocks decreased 1.3 million barrels; Other oils were down 1 million barrel; Total crude oil and petroleum stocks rose 1.9 million barrels. Refinery utilization rose from the post Lehman […]
Working gas in storage fell 191 Bcf from the previous week. Cold weather is helping the price, but I’m still indecisive if the winter draw will be strong enough to clear the stockpiles for a summer filling. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range
Working gas in storage fell 115 Bcf from the previous week. Natural gas is holding well through today sell of. Enigma to me why… Without few cold weeks the end of winter stockpiles could be higher than last year, which means another tough year for the natural gas markets. Chart 1. Natural Gas Futures Chart […]
Crude oil stocks rose 2.3 million barrels for week ending 29 January; Gasoline stocks increased for 2 million barrels; Distillate stocks fell 0.9 million barrels; Propane/propylene stocks decreased 3 million barrels; Other oils were down 1.9 million barrels; Total crude oil and petroleum stocks rose 0.8 million barrels. Refinery utilization fell to a post Lehman […]
Working gas in storage fell 86 Bcf from the previous week. Somewhat disappointing draw, the futures price declined more with all energy commodities than because of fundamentals. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range
Crude oil stocks fell 3.9 million barrels for week ending 22 January; Gasoline stocks increased for 2 million barrels; Distillate stocks rose 0.4 million barrels; Propane/propylene stocks fell 4.3 million barrels; Other oils were down 0.2 million barrels; Total crude oil and petroleum stocks fell 5.7 million barrels. Refinery utilization remained flat at 78.5%. Crude […]
Crude oil stocks fell 0.5 million barrels for week ending 15 January; Gasoline stocks increased for 4 million barrels; Distillate stocks decreased 3.3 million barrels; Propane/propylene stocks fell 4.8 million barrels; Other oils were down 0.2 million barrels; Total crude oil and petroleum stocks fell 1.6 million barrels. Refinery utilization surprised to the downside reaching […]
Working gas in storage fell 245 Bcf from the previous week. In the strange twist of events we are coming from storage being 100% full to possibly empty storage at the end of the winter.From fundamental side a even more compelling long. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared […]