WTI Breakout? Up 5% Today; No New Permits But Sinclair Renews Seven Permits -- April 14, 2021

Where did all the rental cars go? The WSJ. Agree. I've seen it at our local Enterprise. Lot is generally empty; can't get car on 12-hour notice; not sure about 24-hour notice, but it's difficult. 

Ketchup: again a "shortage" is being reported. Not sure if it's a ketchup shortage or a plastic, individual-container shortage. Link here at The WSJ. Solution? Carry your own Ketchup and/or your own Tabasco sauce. I had my own Tabasco-camouflaged belt holder while in the USAF.

US Steel: 7% jump today. 

MNRL: on a tear, up another 3.6% today; now trading over $16. 

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Great Britain's dependence on imported oil: there's a big story line here -- I've alluded to it over the past several years ... from Financial Times ...

WTI:

• up 5.25%; up over $3/bbl; trading at $63.34.
• oil hits highest since mid-March on strong demand outlook.

Permian Basin: poised for a production boom. 

Road to Texas renewable energy: another round of power shortages grips Texas. 

WMT:

• moving more part-time workers to full-time workers
• Walmart's goal: two-thirds of workforce to be full-time workers;
• WMT down slightly today; trading at $139/share;

Gasoline demand: for the first time since the pandemic began, Americans are driving more than they did in 2019 on interstate highways. Vehicle miles driven on interstate highways were up 1% on the week ending April 11, 2021, vs same 2019 week.

Gasoline demand, link here:

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Back to the Bakken

Active rigs:

$63.15	4/14/2021	04/14/2020	04/14/2019	04/14/2018	04/14/2017
Active Rigs	17	34	63	61	51

No new permits.

Seven permits renewed:

• Sinclair: six Lizzie Rae permits in McKenzie County, and one Crosby Creek permit in Dunn County.

Two producing wells (DUCs) reported as completed:

• 36251, loc/A, Slawson, Osprey Federal 5-26-29TFH, Big Bend, no production data,
• 36252, loc/A, Slawson, Osprey Federal 2-26-29H, Big Bend, no production data,