Holy mackerel: ISO NE -- $75 this morning. Link here. This is autumn: heating not yet needed; a/c not needed.
- natural gas: 63%
- nuclear: 24%
- nothing else matters, does it?
Disclaimer:
this is not an investment site. Do not make any investment, financial,
job, career, travel, or relationship decisions based on what you read
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Dow: up 200 at the opening.
- Energy SPDR: up almost 3%
- DVN: up over 5% today; just now Jim Cramer says DVN best in the oil patch
- highlighted DVN's variable dividend
- track DVN here;
FedEx: leading indicator
- shortage of employees will affect companies well into 2022
Netflix: huge acquisition, link here:
- buying entire library of Roald Dahl
- this is the firm's (Netflix) biggest acquisition to date
- already had a relationship; now cements it
- building its content arsenal in streaming wars against rivals, including Disney+, Amazon Prime, and HBO Max;
- much, much more at the link
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.
Legacy Fund: still waiting for September deposits data. Link here.
EIA weekly petroleum report: Link here.
- US crude oil in storage decreased by a moderate 3.5 million bbls;
- US crude oil in storage now stands at 414.0 million bbls; 85 below the five-year average
- refiners are operating at 87.5% of their operable capacity
- US crude oil imports averaged 6.5 million bopd, increased by 0.7 million bopd; over the past four weeks, imports have averaged about 6.1 million bbls per day; almost 20% more than the same four-week period last year -- and a lot of that is coming from Russia
- distillate fuel inventories decreased by 2.6 million bbls last week; inventories now stand at 14% below the five-year average
- total commercial petroleum inventories decreased by 2.6 million bbls last week
- but look at this: total products supplied over the last four-week period averaged 21.0 million bbls per day, up by almost 20% from same period last year, the year of the plague year, but we need comparisons to 2019, pre-pandemic; comparisons with last year are almost meaningless;
- jet fuel supplied was up a whopping 70.4% compared with same period last year;
Distillate fuel:
Distillate Fuel Inventories |
|
|
|
Week |
Date of Report |
Change in Millions |
Relative to 5-Yr Avg |
Week 42 |
June 10, 2021 |
4.40 |
-5.0% |
Week 43 |
June 16, 2021 |
-1.00 |
-6.0% |
Week 44 |
June 23, 2021 |
1.80 |
-4.0% |
Week 45 |
June 30, 2021 |
0.90 |
-5.0% |
Week 46 |
July 8, 2021 |
1.60 |
-6.0% |
Week 47 |
July 14, 2021 |
3.70 |
-4.0% |
Week 48 |
July 21, 2021 |
-1.30 |
-4.0% |
Week 49 |
July 28, 2021 |
-3.10 |
-7.0% |
Week 50 |
August 4, 2021 |
0.80 |
-6.0% |
Week 51 |
August 11, 2021 |
1.80 |
-6.0% |
Week 52 |
August 18, 2021 |
-2.70 |
-8.0% |
Week 53 |
August 25, 2021 |
0.60 |
-8.0% |
Week 54 |
September 1, 2021 |
-1.70 |
-9.0% |
Week 55 |
September 9, 2021 |
-3.10 |
-12.0% |
Week 56 |
September 15, 2021 |
-1.70 |
-13.0% |
Week 57 |
September 22, 2021 |
-2.60 |
-14.0% |
Crude oil imports:
Crude Oil Imports |
|
|
|
|
Week (week-over-week) |
Date of Report |
Raw Data, millions of bbls |
Change (millions of bbls) |
Four-week period comparison |
Week 17 |
July 8, 2020 |
7.4 |
1.400 |
-8.500% |
Week 18 |
July 15, 2020 |
7.5 |
-1.800 |
-10.200% |
Week 19 |
July 22, 2020 |
5.9 |
0.373 |
-13.500% |
Week 20 |
July 29, 2020 |
5.1 |
-0.800 |
-13.600% |
Week 21 |
August 5, 2020 |
6.0 |
0.900 |
-18.100% |
Week 67 |
June 23, 2021 |
6.9 |
0.197 |
-1.00% |
Week 68 |
June 30, 2021 |
6.4 |
-0.500 |
2.80% |
Week 69 |
July 8, 2021 |
5.9 |
-0.500 |
-2.20% |
Week 70 |
July 14, 2021 |
6.2 |
0.347 |
-0.10% |
Week 71 |
July 21, 2021 |
7.1 |
0.900 |
2.90% |
Week 72 |
July 28, 2021 |
6.5 |
-0.600 |
6.90% |
Week 73 |
August 4, 2021 |
6.4 |
-0.075 |
15.80% |
Week 74 |
August 11, 2021 |
6.5 |
-0.036 |
16.30% |
Week 75 |
August 18, 2021 |
6.4 |
-0.064 |
14.10% |
Week 76 |
August 25, 2021 |
6.2 |
-0.193 |
8.80% |
Week 77 |
September 1, 2021 |
6.3 |
-0.183 |
13.90% |
Week 78 |
September 8, 2021 |
5.8 |
-0.500 |
12.20% |
Week 79 |
September 15, 2021 |
5.8 |
-0.048 |
13.30% |
Week 80 |
September 22, 2021 |
6.5 |
0.700 |
18.90% |
Jet fuel delivered:
Jet Fuel Delivered, Change, Four-Week/Four-Week |
|
|
Week |
Date of Report |
Change |
Week 54 |
June 3, 2021 |
137.80% |
Week 55 |
June 10, 2021 |
95.10% |
Week 56 |
June 16, 2021 |
86.80% |
Week 56 |
June 23, 2021 |
97.50% |
Week 57 |
June 30, 2021 |
83.50% |
Week 58 |
July 8, 2021 |
89.10% |
Week 59 |
July 14, 2021 |
65.90% |
Week 60 |
July 21, 2021 |
49.50% |
Week 61 |
July 28, 2021 |
39.40% |
Week 62 |
August 4, 2021 |
42.90% |
Week 63 |
August 11, 2021 |
45.80% |
Week 64 |
August 18, 2021 |
56.10% |
Week 65 |
August 25, 2021 |
45.40% |
Week 66 |
September 1, 2021 |
51.70% |
Week 67 |
September 9, 2021 |
65.30% |
Week 68 |
September 15, 2021 |
59.10% |
Week 69 |
September 22, 2021 |
70.40% |
US crude oil in storage at a 35 month low; the total of all U.S. Stocks of Crude Oil and Petroleum Products, including those in the SPR, is at a 6 1/2 year low...it's not making headlines because everyone looks at commercial stocks & no one takes the depletion of the SPR into account..
ReplyDeleteThe tea leaves suggest a real shortage of oil --- but we will see what shale can do.
Delete