Research & News
Bi-Weekly Geopolitical Report – Mineral Commodities in the World’s New Geopolitical Blocs (June 6, 2022)
by Patrick Fearon-Hernandez, CFA | PDF For many years, we’ve discussed how the United States has been backing away from its historical role as global hegemon, setting the stage for deglobalization and a fracturing of the world into separate geopolitical and economic blocs. In our Bi-Weekly Geopolitical Report from May 9, 2022, we provided a… Read More »
Weekly Energy Update (June 3, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to grind higher despite reports of OPEC+ production increases and record SPR sales. (Source: Barchart.com) Crude oil inventories fell 5.1 mb compared to a 3.0 mb draw forecast. The SPR declined 5.4 mb, meaning the net draw was 10.5 mb.… Read More »
Asset Allocation Bi-Weekly – The Problem of Financial Conditions (May 31, 2022)
by the Asset Allocation Committee | PDF Among the financial pundit class, there has been a growing call to weaken financial conditions. What are financial conditions? They include credit spreads, the level of interest rates, the level of equities, the level of market volatility, the dollar’s exchange rate, etc. Weaker financial conditions mean that borrowing… Read More »
Weekly Energy Update (May 26, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have been mostly holding steady this week. (Source: Barchart.com) Crude oil inventories fell 1.0 mb compared to a 2.1 mb draw forecast. The SPR declined 6.0 mb, meaning the net draw was 7.0 mb. In the details, U.S. crude oil production… Read More »
Bi-Weekly Geopolitical Report – Going Nuclear with North Korea (May 23, 2022)
by Thomas Wash | PDF At nearly 5,000 nuclear warheads, Ukraine had one of the largest nuclear arsenals in the world on its territory. If Ukraine hadn’t transferred those weapons to Russia in 1996, it is unlikely that Moscow would have invaded. North Korea believes it is facing a similar threat which is why it… Read More »
Weekly Energy Update (May 19, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have moved higher this week, touching technical resistance at $115 per barrel. (Source: Barchart.com) Crude oil inventories unexpectedly fell 3.4 mb compared to a 1.6 mb build forecast. The SPR declined 5.0 mb, meaning the net draw was 8.4 mb. In… Read More »