By the numbers:
- TYT: 1.292%, down 0.01
- WTI: $68.97; up about 0.55%; up about 38 cents;
- DXY: 92.45, unchanged;
Overnight:
- most under-reported number: implied US oil demand has surged -- EIA; not yet seeing the analysis
- pay attention to the chart at this post -- it's more than remarkable;
- 2019, pre-pandemic record: less than 22 million bpd; but the norm was around 20 mbpd
- September, 2021: trending toward 23 million bpd; huge jump started with summer driving, but recent surge is unprecedented (fact-check please)
Reminder: how the shale revolution changed things. Link here. Or go directly to this link at Gulf Times:
- the first liquefaction train of the Golden Pass LNG liquefication and export terminal in Sabine, Texas, a $10bn joint-venture formed by Qatar Petroleum and ExxonMobil, is scheduled to come online by 2024;
Baxter: up in pre-trading; will buy Hill-Rom Holdings for $10.5 billion; no links, story everywhere;
Auto anxiety: Nissan has delayed the restart of its Tennessee automotive plant for another two weeks; link her; direct link here;
- yes, chip shortage, again;
- article also updates Ford and Stellantis, both recently announcing additional production cuts;
- but, let's think about that for a moment; if I remember, I will come back to this one;
- I'm seeing an opportunity here
Iraq: the story continues;
- Iraq at risk of power shortages
- Iran reduced gas supply
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