Friday, September 22, 2023

Week 38: September 18, 2023 -- September 24, 2023

Locator: 45558TOPSTORY.

Top story:

  • Apple iPhone 15 first day availability -- opens to rave reviews;
  • US Fed does not raise rates but spooks major indices with "promise" for one more rate hike before the end of 2023
    • higher rates not only "for longer," but perhaps for "forever"
    • investors across the board now skittish; narratives in question;

Top international non-energy story:

  • “Peace talks” — normalization of relations between Saudi Arabia and Israel — on-going
  • Putin has clearly ceded southern Asia area of influence to the Chinese;
  • Russian-Ukraine war continues
    • Putin's HQ Black Sea Fleet destroyed, missile attack
    • Biden promises Zelenskyy ATACKMS

Top international energy story:

  • coal shipments to China hitting all-time high;
  • folks starting to ask: what if “renewable narrative” fails?
    • $100-oil

Top national non-energy story:

  • UAW expands nationwide strike; one full week complete
    • not agood sign for families walking the picket lines that union leadership had to expand the strike
    • Ford starting to capitulate or a head fake / agreeing to some UAW demands (?)

Top national energy story:

  • WTI: closes above $90 for the week
  • OKE takeover of MMP (Magellan) complete; largest merger in quite some time
    • most analysts, it appears, think it was a great deal for all affected

Focus on frackingmost recent edition.

Top North Dakota non-energy story:

  • ND governor still in the national presidential GOP campaign -- but Trump grows stronger in the polls

Top North Dakota energy story:


Geoff Simon's quick connects:

Bakken economy:

  • holding in there -- but active rigs running about 32

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