Locator: 51295OIL
Pageviews: 70,059,425. 8:40 p.m. CT, Thursday, 30 July, 2026.
Rambling thought: GDP missed analysts' estimates. Link here. But the headline was worse than the story. Estimate: 1.8%. Actual, 1.5%. But it must concern the Fed about raising rates and killing the economy completely when the problem is something the Fed cannot control:
Thursday’s gross domestic product report included positive signs on other fronts. Consumers increased their spending, shrugging off a surge in gas prices fueled by the conflict with Iran. Business investment remained strong as companies kept investing in IT equipment and software for the AI build-out.
WTI tonight dropped to under $83. The actual number is irrelevant -- don't take that out of context -- it's the direction of movement that's important. It's very possible that CVX will trade lower tomorrow. I have no idea what it might mean that WTI is trending down right now, albeit not by much.
- PSX: today up strong, futures green, albeit not by much.
- COP: today up 1%; futures green tomorrow at 0.6%.
- XOM: up today but inconsequential; futures, much better tomorrow.
- TTE: flat.
- OXY: negative today.
- DVN: negative / flat.
The oil story simply makes no sense.
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Disclaimer
Briefly:
I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken. I am inappropriately exuberant about the US economy and the US market. I am also inappropriately exuberant about all things Apple. See disclaimer. This is not an investment site. 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 something appears wrong, it probably is. Feel free to fact check everything. 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. Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market. I am also inappropriately exuberant about all things Apple. And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution. I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM. Longer version here.
