TSM -- January 12, 2023

Here it is:

• exactly as expected
• CPI: down 0.1%, exactly as expected;
  
• 6.5: exactly as expected
  
• high water 9.1% back in June
•  core (y/y; excludes energy, food): up 5.7, exactly as expected
• m/m: CPI up 0.3%; exactly as expected
  
• Dow goes from "up 130 points" to "down 100 points."
  

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Original Post

The Dow: as CPI numbers released:

• at 7:24, futures: Dow up 124 points, after being flat all night.
• at 7:25: up 130 points.
• at 7:32: down 100 points
• at 7:35: now, as analysts start digesting these very good numbers, Dow back up 60 points
• at 7:37: back up 80 points
  
• analysts:
• inflation decelerating
• inflation will be higher for longer but Fed will live with it
  
• a good report
• wait for details: rent, services
• Fed will look at this favorably
• Fed will high rates twice more this year, up 25 bp each time;
• market; wait and watch
• Rick Santelli: market today -- should go much higher today; this was all the buzz yesterday -- that this could be a great day for the market
  

Jobs:

• continuing claims: down 63K to 1.63 million
• initial claims: down 1K to 205K
  

Enough of this, moving on. CNBC now turned off for the day. 

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.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

TSM: only one number to watch! Link here. Shares could surge today.

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Back to the Bakken

Active rigs: link here.

The Far Side: link here. 

WTI: amazing. Up another $1.20; up 5.6%; trading at $78.61.

Natural gas: $3.810.

Friday, January 13, 2023:
36891, conf, Petroshale, Carson Federal 21-19A,
36177, conf, BR, George 2E MBH,
27883, conf, CLR, Jersey Federal 21-6H,

Thursday, January 12, 2023:
38735, conf, Hess, EN-Anderson-156-94-1819H-2,
37564, conf, Petro-Hunt, Jorgenson 158-94-12C-1-1HS,
27882, conf, CLR, Jersey Federal 20-6H2,

RBN Energy: The 2023 outlook for Permian gas and oil markets. Archived.

You probably won’t be surprised to hear that we believe the Permian Basin is set for another year of crude oil and natural gas production growth. Everyone’s come to expect that from the Permian. What is new, though, is that the vast production area in West Texas and southeastern New Mexico has taken on some serious global significance over the past year — especially as an increasingly important energy supplier to Europe.

That emerging role is likely not only to support continued production growth in the Permian but also to shape how the basin’s infrastructure is built out through the rest of the 2020s. And we also know that infrastructure development is critical to the Permian’s ongoing success — in 2023, new gas pipeline takeaway capacity is needed pronto and it may not be long before new oil-pipeline capacity from the Permian to Corpus Christi is required too. In today's RBN blog, we provide this year’s outlook for Permian natural gas and oil markets.