Research & News
Weekly Energy Update (March 9, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil remains in a trading range between $72-$82 per barrel. (Source: Barchart.com) Crude oil inventories fell 1.7 mb compared to a 1.9 mb build forecast. The SPR was unchanged. In the details, U.S. crude oil production declined 0.1 mbpd to 12.2 mbpd. Exports… Read More »
Daily Comment (March 8, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with energy industry warnings about insufficient oil supplies in the coming years, which is consistent with our positive outlook for commodity prices once the economy gets past the impending recession. We next review a wide range of other… Read More »
Daily Comment (March 7, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with the latest key developments from China’s “two sessions” government meetings. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including another round of strikes in… Read More »
Bi-Weekly Geopolitical Report – Enter the Petroyuan (March 6, 2023)
Bill O’Grady | PDF In December, General Secretary Xi made a state visit to the Kingdom of Saudi Arabia (KSA) where he discussed the potential for trading oil in CNY. Although nothing formal was signed on this issue, Xi suggested that the KSA should trade oil and gas using the CNY for settlement. Talks between… Read More »
Daily Comment (March 6, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with some observations on the important high-level government meetings that began in China over the weekend and included an announcement that China will target a relatively modest economic growth rate of just 5% in 2023. We next review… Read More »
Daily Comment (March 3, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Today’s Comment begins with our thoughts on the Fed’s overreliance on economic data to dictate policy. Next, we review signs that interest rates are finally starting to weigh on the economy. We end the report by discussing the ongoing feud between Brazilian… Read More »
Daily Comment (March 2, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with a discussion on how earnings may not provide an accurate picture of the business environment and what that could mean for the economy. Next, we give our thoughts on the recent increase in interest rate expectations… Read More »