Energy Reports
Weekly Energy Update (April 15, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After consolidating for a month, prices are starting to move higher. (Source: Barchart.com) Crude oil inventories fell 5.9 mb compared to the 2.4 mb draw expected. The SPR fell 1.1 mb, meaning without the addition from the reserve, commercial inventories would have declined 7.0… Read More »
Weekly Energy Update (April 8, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continue to consolidate in a tight range between $62 and $58 per barrel. (Source: Barchart.com) Crude oil inventories fell 3.5 mb compared to the 2.0 mb draw expected. There was no change in the SPR. Refinery operations have normalized to pre-Texas freeze levels.… Read More »
Weekly Energy Update (April 1, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After peaking in early March, prices have pulled back to pivot around $60 per barrel. Although recent builds in crude oil are bearish, expectations for stronger economic growth should be supportive for prices. Crude oil inventories fell 0.9 mb compared to the 1.7 mb… Read More »
Weekly Energy Update (March 25, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices have declined over $10 per barrel since peaking on March 8. Worries about slowing European growth and a slower than expected recovery in refinery operations after the Texas freeze have weighed on prices. Crude oil… Read More »
Weekly Energy Update (March 18, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating in the low $60s. Crude oil inventories rose 2.4 mb which was in line with forecast. There was no change in the SPR. We did see a recovery in refinery operations but not… Read More »
Weekly Energy Update (March 11, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating in the low $60s. Crude oil inventories rose again, defying expectations of a draw. Stockpiles increased 13.8 mb when a draw of 3.0 mb was forecast. There was no change in the SPR. … Read More »
Weekly Energy Update (March 4, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating in the high $50s to the mid-$60s. Crude oil inventories jumped 21.6 mb when a draw of 4.0 mb was forecast. There was no change in the SPR. The build in stockpiles was… Read More »
Weekly Energy Update (February 25, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices continue to rise. Crude oil inventories rose 1.3 mb when a draw of 6.5 mb was forecast. There was no change in the SPR. Analysts (us included) expected production outages in Texas to lead to… Read More »
Weekly Energy Update (February 19, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF This week’s report is being published on Friday as the DOE data was delayed due to the Presidents’ Day holiday. Here is an updated crude oil price chart. Prices continue to rise. Crude oil inventories fell 7.4 mb when a draw of 2.0 mb… Read More »