For The Archives -- US Braces For Expensive Gasoline This Summer -- March 15, 2021

Link here.  

Biden owns $6 gasoline in California: social media is starting to mention that President Biden owns $6 gasoline in California --

• shutting down the Keystone XL;
• revoking federal drilling permits;
• slowing permit approval process;
• plans to "dis-incentivize" off-shore drilling through increased federal royalties;
  
• under the guise of global warming concerns, will add regulations to "dis-incentivize" fracking;
  
• DAPL at risk.

As states lift pandemic restrictions, gasoline demand will surge.

WSJ Headlines -- For The Archives -- March 15, 2021

Covid-19:

• AstraZeneca vaccine suspended by Italy, France, Germany;
• when CEOs really think we'll come back to work;

Lots of cash:

• US banks to turn last year's cash build-up into profits;
• air travel is showing signs of renewed demand;
• EV startups promise record-breaking revenue growth;
• VW to build six battery factories in Europe;
• Blackstone, Starwood Capital team up in $6 billion extended stay deal;

Politics:

• Haaland confirmed as Interior Secretary in historic vote;
• US is setting up two new shelters in Texas for unaccompanied minors;

Religion:

• Vatican rules out blessings for same-sex relationships;

Selected Basins, Drilled, Completions, DUCs -- For The Archives -- March 15, 2021

From a reader, thank you very much.

For the archives.

Note: in the process of transcribing this data and re-formatting, errors may have occurred. If this is important to you, go to the source.

Spring Break In North Dakota: No NDIC Report Posted Today; WTI Price Declines For A Second Day -- What's Going On? Two words. -- March 15, 2021

The two words "the dollar."

A strengthening dollar leads to lower WTI prices, all else being equal.

Link here.  

First group:

• 10-Year Treasury: link here. 1.606%; down 3 basis points;
  
• DXY: link here. 91.80; up slightly; previous close, 91.60.
  
• Silver: link  here. $26.330; up 1.65;
  
• CBOE volatility index: link here. 20.03, down significantly; down over 3%.
  

Second group:

• 30-Year Treasury: link here. Down four basis points; 2.359%.

Another day, another record (well, actually two more):

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Apple

Apple: continued to dominate the wearables market in 2020. Link here. Its weaables business is the size of a Fortune 120 company.

• 4Q20:
• Apple said its wearables set a new revenue record
• Apple shipped 55.6 million wearable devices during 4Q20; 36.2 percent market share;
• same market share as 4Q19, but overall device shipments were up from 43.7 million in 4Q19;
• and then this: Apple's competitors don't even come close
• Xiaomi: 13.5 million, in 2nd place; 8.8 percent of the market
• Samsung: 13 million, in 3rd place;
• Huawei: 10.2 million devices
• Apple Watch: shipments rose an estimated -- an eye-watering -- 45.6 percent
• "hearables" (AirPods, AirPods Pro and AirPods Max) surged during the quarter
• Full year 2020:
• 151.4 million wearable devices shipped; 34.1 percent market share;
• Xiaomi: 50.7 million devices
• Huawei: 43.5 million
• Samsung: 40 million

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Back to the Bakken

Active rigs:

$65.39	3/15/2021	03/15/2020	03/15/2019	03/15/2018	03/15/2017
Active Rigs	15	55	65	57	46

No NDIC daily activity report posted today.

No new permits.

Anticipation -- March 15, 2021

Link here to Platts:

• for week ending March 12, 2021;
• commercial crude oil inventories probably increased by 400,000 bbls to 498.8 million bbls;
• the counter-seasonal build would leave stocks 6.5% above the five-year average -- opening the widest surplus since early January;
• nationwide refinery runs continue to hold well below normal following mid-February deep freeze
• nationwide refinery utilization is expected to average around 74% of total capacity;
• that would still be more than 14% below the five-year average
• US crude exports averaged 2.68 million bopd ended March 12, Platts data, roughly flat from an EIA-reported 2.63 million bopd the week prior;
  

From last week, for week ending March 5, 2021: