Energy Reports
Weekly Energy Update (July 20, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF On Monday, oil prices spiked on reports that the Kingdom of Saudi Arabia (KSA) was going to extend its voluntary production cuts until year’s end. The report was incorrect but does show the power that the news has on the oil markets. (Source: Barchart.com)… Read More »
Weekly Energy Update (July 13, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Falling U.S. inflation is raising hopes that the Fed’s tightening cycle is coming to an end. That has lifted oil prices, triggering a breakout above the recent trading range. (Source: Barchart.com) Commercial crude oil inventories rose 5.9 mb, well above the 0.1 mb draw… Read More »
Weekly Energy Update (July 6, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Despite OPEC+ promises to cut production, oil remains in a $67 to $74 per barrel trading range. Commercial crude oil inventories fell 1.5 mb, which was on forecast. The SPR fell 1.5 mb, putting the total draw at 3.0 mb. In the details, U.S.… Read More »
Weekly Energy Update (June 29, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. Commercial crude oil inventories fell 9.6 mb when compared to the forecast draw of 1.3 mb. The SPR fell 1.4 mb, putting the total draw at 11.0 mb. In… Read More »
Weekly Energy Update (June 22, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. (Source: Barchart.com) Commercial crude oil inventories fell 3.8 mb when compared to the forecast build of 0.5 mb. The SPR fell 1.7 mb, putting the total draw at 5.6… Read More »
Weekly Energy Update (June 15, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. (Source: Barchart.com) Commercial crude oil inventories rose 7.9 mb when compared to the forecast draw of 1.5 mb. The SPR fell 1.9 mb, putting the total build at 6.0… Read More »
Weekly Energy Update (June 8, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices continue to trade in the lower part of the trading range despite the Saudis’ announcement of a unilateral production cut. (Source: Barchart.com) Commercial crude oil inventories fell 0.5 mb when compared to the forecast build of 1.5 mb. The SPR fell 1.9… Read More »
Weekly Energy Update (June 1, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have been volatile in front of the OPEC+ meeting. (Source: Barchart.com) Commercial crude oil inventories fell a whopping 12.5 mb when compared to the forecast build of 1.5 mb. The SPR fell 1.6 mb, putting the total draw at 14.1 mb. In… Read More »
Weekly Energy Update (May 25, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices are rising back into their earlier trading range of $73 to $82 per barrel. (Source: Barchart.com) Commercial crude oil inventories fell a whopping 12.5 mb when compared to the forecast build of 1.5 mb. The SPR fell 1.6 mb, putting the total… Read More »