Energy Reports
Weekly Energy Update (September 21, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have continued their rise, with Brent trending toward $95 per barrel. Recent extensions of the production cuts by the Kingdom of Saudi Arabia (KSA) have boosted prices. (Source: Barchart.com) Commercial crude oil inventories fell 2.1 mb compared to forecasts of a 1.7… Read More »
Weekly Energy Update (September 14, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have continued their rise, with WTI trending towards $90 per barrel. (Source: Barchart.com) Commercial crude oil inventories rose 4.0 mb, compared to forecasts of a 2.0 mb draw. The SPR rose 0.3 mb which puts the net build at 4.2 mb (the… Read More »
Weekly Energy Update (September 8, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have clearly broken out of their trading range, with Brent crude oil moving above $90 per barrel. Prices are being supported by the Russian and Saudi extension of production restraint. (Source: Barchart.com) Commercial crude oil inventories fell 6.3 mb, much lower than… Read More »
Weekly Energy Update (August 31, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices were mostly rangebound this week, holding near recent highs. We are watching Hurricane Idalia as it travels through the Gulf of Mexico. Its current track suggests it will miss the most sensitive areas of oil and gas production, but it could disrupt… Read More »
Weekly Energy Update (August 24, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices continued to weaken this week, although there are technical signs that prices might be consolidating at these elevated levels. (Source: Barchart.com) Commercial crude oil inventories fell 6.1 mb, lower than the 2.5 mb draw forecast. The SPR rose 0.6 mb which puts… Read More »
Weekly Energy Update (August 17, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices did break out of the trading range but were unable to maintain the uptrend. We suspect the recent pullback is corrective in nature and not the start of a major selloff. (Source: Barchart.com) Commercial crude oil inventories fell 6.0 mb, much lower… Read More »
Weekly Energy Update (August 10, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices are challenging the upper end of the trading range but so far have failed to breakout above that level. (Source: Barchart.com) Commercial crude oil inventories rose 6.8 mb, well above the 3.0 mb build forecast. The SPR rose 1.0 mb. In the… Read More »
Weekly Energy Update (August 3, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices challenged the upper end of the trading range but so far have failed to breakout above that level. (Source: Barchart.com) Commercial crude oil inventories fell a massive 17.0 mb, well above the 2.3 mb draw forecast. The SPR was unchanged. In the… Read More »
Weekly Energy Update (July 27, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have moved into the upper end of the trading range. (Source: Barchart.com) Commercial crude oil inventories fell 0.6 mb, less than the 2.0 mb draw forecast. The SPR was unchanged. In the details, U.S. crude oil production fell 0.1 mbpd to 12.2… Read More »