Monday, April 24, 2017

The Energy And Market Page, T+93 -- April 24, 2017

Right turn:France makes a right turn; probably moves to the center lane. Markets soar.

WTI: no surprise; trending toward $49.

Dow 30: up 217 points.
  • SRE: $113
  • T: $40
  • BK: $48 (nice little jump; up 2.5%)
  • XLNX: $60 (after jumping 4.35%)
  • EOG: $94 (stable; saved by the overall market)
  • WMB: $30 (stable; saved by the overall market)
  • BRK-B: $165 (up about 1% with the overall market) 
  • GM: $34 (very, very nice; up about 1%)
  • TSLA: $308 (up about 0.7%; a bit surprising considering the overall market)
Chevron: to sell Bangladesh gas fields to Chinese; $2 billion; will mark China's first major energy investment in Bangladesh where Beijing is pumping billions of dollars in a race with New Delhi and Tokyo for influence.

OPEC: via Twitter, some OPEC ministers have made preliminary agreements to extend cuts.

Russia cuts: why re-balancing is a joke. Via twitter. Headline: Russia cuts 250,000 bopd by end of April to comply with oil output deal. 250,000 bbls/100 million bbls = 0.25%. Yes, a quarter of one percent. A rounding error. The amount of oil McKenzie County in North Dakota can produce on any given day -- in the winter.

NASDAQ: up almost 70 points.

Whiting, Bakken, and Filloon. Update here.


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