Locator: 50382EVS.
Interesting, huh? High gasoline prices won't rescue EVs this time around.
Ticker: Rivian --
Back to GM:
Tuesday, March 31, 2026
EV Rust Belt -- March 31, 2026
Interesting, huh? High gasoline prices won't rescue EVs this time around.
Back to GM:
Price Of WTI To Stabilize At A Higher Trading Range Once The War Ends? Great News For US Drillers? March 31, 2026
Locator: 50381WTI.
Breaking, 7:15 p.m. CT: Trump says he will address the nation on the Iran War tomorrow night, Wednesday, March 31, 2026. He will get back to "his" agenda after helping Netanyahu reach his agenda. I think it will be fascinating.
Breaking, 6:41 p.m. CT: Trump says the US will have "nothing to do" with the Strait of Hormuz once the special military operations in Iran concludes.
This seems to me to be very good news for US drillers.
It seems to suggest that the price of oil will remain in a trading range of $90 - $100.
****************************
Money, Money
Tuesday -- March 31, 2026
Locator: 50379B.
So, where's this shortage of oil we were told the Iran war would cause? It gets tedious. Link here. How much did US oil inventories rise last week? Whatever it was, it was "staggering."
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by a staggering 10.263 million barrels in the week ending March 27.
In the week prior, US crude oil inventories rose by 2.3 million barrels.
Analysts had expected a draw of 1.3 million barrels in the current reporting period.
Consistently, analysts seem to get these estimates wrong.
********************************
Back to the Bakken
WTI: $101.80. Prices dropped significantly in the last 48 hours but still trading above $100. And get this: US crude oil inventories see a "surprise" 10-million-barrel spike.
Active rigs: 23.
No new permits.
Six permits renewed:
- Murex (5): five "CD" wells in West Bank and Beaver Lodge fields, Williams County -- CD-Cynthia Dale; CD-Freances McKenna; CD-Jarrod Joseph; CD-Michael Paul; and CD-Nancy Rey, all in sectioin 16-156-96.
- Hess: AN-Double Bar V-152-95-0106H-5, Antelope field, McKenzie County.
Chart(s) Of The Day -- March 31, 2026
Locator: 50378WTI.
Share prices of oil majors plummeting. War will end soon.
Tea leaves:
- one last major B-52 sweep this weekend;
- major announcement Monday or Tuesday; mission accomplished;
- US stands down; defensive stance only;
- US awaits Iran’s response;
- US no longer considers the strait its problem;
- those who need the strait? It’s now their problem;
- WTI settles into a $90 - $100 trading range;
- truly fascinating.
My wife:
- this war will continue indefinitely.
Breaking, 6:41 p.m. CT: Trump says the US will have "nothing to do" with the Strait of Hormuz once the special military operations in Iran concludes.
This seems to me to be very good news for US drillers.
It seems to suggest that the price of oil will remain in a trading range of $90 - $100.
**************************
The Book Page
My book today: Like a Rolling Stone: A Memoir, Jann S Wenner, September 13, 2022.
Notes here.
This is absolutely fascinating.
From the notes:
So, Jann Wanner, my almost exact contemporary but being older by five years (born 1946), he was a generation older than I -- the first love of my life and my wife of 50 years -- both born 1949 ...
the Beatles, Vietnam War, etc., during his coming of age years, just after graduating from high school and starting college at Berkeley -- meanwhile -- I was still in middle school, transitioning to high school.
Most fascinating: Jann Wenner's first 20 years of life in northern California and then southern California were areas that I came to know very, very well in 1973 and later years.
It's also interesting, in anyone's life, how a fork in the road or a short five-year period of time -- for me -- WWII -- the Korean War -- the Vietnam War -- USC School of Medicine -- Bitburg AB, Germany -- can change everything that follows -- forks in the road.
Wow, wow, wow -- never quit reading; one never knows what one might find.
Subscribe to:
Posts (Atom)