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Tuesday, April 23, 2019

Making America Great: US To Be Net Exporter Of Gasoline This Summer -- April 23, 2019

I assume this means that refiners are getting better prices for their refined products overseas than stateside?

Form Platts, data points:
  • US refining margins trended higher last week
  • EIA forecasts the US to be a net exporter of 90,000 bgpd during the summer driving season
  • if that happens, first time that US would be a net gasoline exporter for a whole summer since 1960
  • refinery outages and maintenance could "upend" forecasts
Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have possibly read here.

The market, at opening, market up but look at all the profit-taking; slight sector rotation:
  • Dow: up 30 points
  • WTI: $66.12
  • Tesla reports tomorrow; loss expected; MuskMelon talking robots
    • TSLA fell more than $10 yesterday; down another $2.00 today
  • Anadarko: up 12 cents;
  • Apache: up 3.4% yesterday;  down 24 cents today;
  • CVX: down 13 cents today; profit taking;
  • EOG: after closing up $3.20 yesterday,  down 64 cents today; profit taking;
  • COP: down 3 cents today;
  • OXY: gained 2% yesterday; down 1.7% today;
  • UNP: after gaining another $1.06 yesterday, down 70 cents;
  • JAG: up 28 cents yesterday or about 2.6%; down 11 cents at the open;
  • NOG: up 12 cents yesterday (almost 5%);  wow, up another 9 today; completely unexpected; trading; really, really surprising considering news yesterday; in round numbers, WLL, 100,000 boepd; NOG, 40,000 boepd? I'm sure I'm under-reporting WLL and over-reporting NOG, but I may not be far off; 
  • WLL: trading at $30; a $2.7 billion market cap; NOG, a $1 billion market cap;

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