Notes From All Over -- The Epic Apple Edition -- September 22, 2021

First things first: DUC data in the Bakken posted at this link. 

Coal: coal stocks at key global hubs fall by half in 1H21. Link at ArgusMedia. The numbers are daunting:

• expressed as the number of days of local consumption or throughput: 40 days in June
• is a 47% reduction y/y and last year was the year of the plague
• this number now nears the bottom of the 2017 - 2019 range
• the data reflects a tighter supply-demand balance in 2021 which has been a key factor in driving seaborne prices higher
• remains a risk ahead of the northern hemisphere heating session
• supply decline driven by two factors:
• inclement weather early in 2021, reduced railing and discharging capacity; mining disruption from safety checks, strikes, and protests
• the compounding impact from rising coal burn in some markets, particularly China and India, driven by firm power demand, and gas-to-coal switching in the Atlantic because of surging gas prices
• much more at the link but despite decline in China, the article mentions nothing about the spat between China and Australia
  

Crude in storage: tea leaves suggest US crude oil storage including SPR will hit the 2010 - 2014 average. Link here.  

Crude oil demand: will rebound to pre-pandemic levels by early 2022 -- COP/CEO. 

Six-month high: a rounding error, perhaps, but with a straight face Tsvetana Paraskova can say Saudi Arabia's crude oil exports rose to its highest volume in six months, link here:

• exports rose above six million bpd in July, 2021
• exports hit 6.327 million bpd in July,
• in June? averaged 5.965 million bpd
• delta: 360,000 bpd (a third of Bakken daily production
• this sort of makes sense: as Saudi's summer domestic demand decreases, Saudi can export more oil even without producing any more crude oil 
• in other words: a non-story as far as Saudi production goes
  

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

AAPL: up $2.58. One of the best days ever.

But best from Apple, Inc, today: despite court's ruling, Apple won't allow Epic back in the App Store anytime soon. 

At the link, read the comments. I've never seen unanimity on any issue as this one. Truly amazing. I thought everyone reading MacRumors hated Apple; they may, but they all hate Epic and Fortnite even more. The conditions that Apple set for re-instating Epic in the App Store following the court ruling means that it can't happen for about one hundred years. 

Facebook: sinks on Apple ad-tracking warning. Down four percent.

Fedex: worst performer in S&P 500 today.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.