Tag Archives: Oil

  • Daily Digest

    Daily Digest 1/6 – Stuck on Snowy Highway, Running Out of Food, Water, Gas; EU Energy Crisis; S. American Populists Threaten Oil Production

    by Stewart

    Thursday, January 6, 2022, 8:33 AM

    6

    Resilience Stuck on a Snowy Highway, Running Out of Food, Water, Gas Lanes in both directions eventually became blocked across an approximately 40-mile stretch of I-95 north of Richmond. As hours passed and night fell, motorists posted messages on social media about running out of fuel, food and water. Economy Hawkish Fed signals it may…

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  • News

    OMG, Omicron!

    Weekly Market Commentary 26 November 2021
    by davefairtex

    Sunday, November 28, 2021, 7:03 PM

    29

    The price movements this week were entirely dominated by what happened on Friday. OMICRON! Let’s start with crude oil. Check out the $10 drop in the price of the master resource on the half-day of trading on Friday. It was a remarkable move. Crude is now in a reasonably strong downtrend. On Tuesday, there was…

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  • News

    Selling off Strategic Oil Reserves?

    Weekly Market Commentary 19 November 2021
    by davefairtex

    Monday, November 22, 2021, 10:36 AM

    15

    There were three economic series out this week: Retail Sales [+1.67% m/m, +14.03% y/y], Industrial Production [+1.61% m/m, +4.89% y/y], and Housing Starts [-0.66% m/m, +0.39% y/y]. The Retail Sales number hit an all time high – note much of that move is due to inflation; sales are up 24% over pre-pandemic levels. Even deflated…

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  • News

    Inflation Drives Metals Higher, Looking Forward to Humanity’s “Best Day Ever”

    Weekly Market Commentary 12 November 2021
    by davefairtex

    Sunday, November 14, 2021, 4:50 PM

    117

    This week was about inflation; first the PPI (PPIACO) hit on Tuesday: headline +2.04% m/m [24% annualized!], and then the CPI (CPIAUCSL) landed on Wednesday: headline +0.94% m/m [11.28% annualized!] Both numbers were absurd, multi-decade highs. Hey so about that “transitory inflation” thing – how’s that working again? Inflation expectations still under control? Chair Powell…

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  • News

    Recession-flation, Anti-War Ballads

    Weekly Market Commentary 29 October 2021
    by davefairtex

    Sunday, October 31, 2021, 4:00 PM

    21

    We saw some negative economic data this week: Auto/light truck sales: -6.8% m/m, -33.9% y/y. Auto sales continue to plunge. “Shortages”. The drop in auto sales is nothing short of spectacular: peak of 18m in early 2021, currently at 12m. GDP: +1.87% q/q, +8.78% y/y. That sounds good, but the expectation was for a vastly…

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  • Insider
    A dark winter

    A Dark Winter In Europe

    Leadership lacking to face the many challenges ahead
    by Chris Martenson

    Tuesday, October 26, 2021, 7:31 PM

    124

    The current supply chain disruptions are connected to the institutional failures outlined in Part 1 of this video.  In here, Fauci’s morally and ethically repugnant choice to advance Remdesivir and vaccines over all other early treatments which caused the deaths of come 500,000 Americans are compared to the equally inexcusable efforts by the Fed to…

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  • News

    7-Year High in Crude, 30% Hit to GDP

    Weekly Market Commentary 22 October 2021
    by davefairtex

    Sunday, October 24, 2021, 5:39 PM

    17

    This week was a reasonably good week for the metals. Here’s what the metals sector map looked like – most items are now back above the 9 and 50 MA lines. Gold/euros looks strongest – due to the MA50/MA200 crossing that happened a few months ago. While this week copper was at the bottom of…

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  • News

    Bad Payrolls & Rented Mules

    Weekly Market Commentary 8 October 2021
    by davefairtex

    Sunday, October 10, 2021, 8:00 AM

    24

    Please note: there will not be a Weekly Market Commentary next week (15 October 2021) because Davefairtex will be on vacation. It was another bad payrolls report; headline +194k, with +475k expected. Friend-of-the-site Wolf Richter has a breakdown of this very complicated employment picture. People Not Looking for Work, Labor Force Drops. But Households Report…

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  • News

    COMEX Delivery Wednesday, Not Capable of Inducing Genetic Changes in Human Cells

    Weekly Market Commentary 1 October 2021
    by davefairtex

    Sunday, October 3, 2021, 7:41 PM

    40

    Market Commentary Its hard to know where to focus right now – there is so much going on. First of all this was “COMEX PM delivery week”, specifically, Wednesday was the big delivery day. So guess what happened to silver on Wednesday? It got crapped on – and not by a little either. Silver plunged…

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  • News

    Taper Coming Soon, View from Other Side of the Hill

    Weekly Market Commentary 24 September 2021
    by davefairtex

    Sunday, September 26, 2021, 7:44 PM

    20

    Market Commentary This was Fed Meeting Week – for those who have been distracted by “covid”, the Fed has been hinting about maybe-possibly-tapering their money-printing spree because, maybe, inflation is kinda-sorta starting to become a thing. Finally. To their great relief. Inflation! Yay!! Ok well sure, inflation sucks if you’re a wage-earner, or on a…

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