Energy Reports
Weekly Energy Update (December 14, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (N.B. The Weekly Energy Update is going on indefinite hiatus. Next year, look for a new report format.) Crude oil prices are continuing to break down despite OPEC+ efforts to restrain supply. Commercial crude oil inventories fell 4.3 mb compared to forecasts of a… Read More »
Weekly Energy Update (December 7, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices are breaking down despite OPEC+ efforts to restrain supply. (Source: Barchart.com) Commercial crude oil inventories fell 4.6 mb compared to forecasts of a 3.0 mb draw. The SPR rose 0.3 mb, which puts the net draw at 4.3 mb. In the… Read More »
Weekly Energy Update (November 30, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have retreated from their early October highs. (Source: Barchart.com) Commercial crude oil inventories rose 1.6 mb compared to forecasts of a 1.7 mb draw. The SPR rose 0.3 mb, which puts the net build at 1.9 mb. In the details, U.S.… Read More »
Weekly Energy Update (November 16, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have retreated from their early October highs. (Source: Barchart.com) Commercial crude oil inventories rose 0.8 mb compared to forecasts of a 2.0 mb build. The SPR was unchanged, which puts the net build at 0.8 mb. In the details, U.S. crude… Read More »
Weekly Energy Update (November 2, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices are off their recent highs on expectations that the Hamas crisis will remain contained. (Source: Barchart.com) Commercial crude oil inventories rose 0.8 mb compared to forecasts of a 2.0 mb build. The SPR was unchanged, which puts the net build at… Read More »
Weekly Energy Update (October 19, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Continued tensions in the Middle East are supporting crude oil prices. (Source: Barchart.com) Commercial crude oil inventories fell 4.5 mb compared to forecasts of a 0.6 mb draw. The SPR was unchanged, which puts the net draw at 4.5 mb. In the details, U.S.… Read More »
Weekly Energy Update (October 13, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF The Hamas attack on Israel did lift oil prices earlier this week, but markets are mainly taking a “wait and see” approach to prices so far. (Source: Barchart.com) Commercial crude oil inventories jumped 10.2 mb compared to forecasts of a 0.4 mb draw. The… Read More »
Weekly Energy Update (October 5, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After making a run at $95 per barrel last week, prices are correcting; we suspect rising interest rates are increasing fears of an economic slowdown. (Source: Barchart.com) Commercial crude oil inventories fell 2.2 mb compared to forecasts of a 1.5 mb build. The SPR… Read More »
Weekly Energy Update (September 28, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices are breaking out, raising the potential for a move toward $95 per barrel. (Source: Barchart.com) Commercial crude oil inventories fell 2.2 mb compared to forecasts of a 2.0 mb build. The SPR fell 0.3 mb, which puts the net draw at 2.4… Read More »