Energy Reports

Weekly Energy Update (January 26, 2023)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices appear to have based but so far have failed to break above resistance at around $80-$82 per barrel. (Source: Barchart.com) Crude oil inventories rose 0.5 mb compared to a 3.0 mb draw forecast.  The SPR was unchanged. In the details, U.S.… Read More »

Weekly Energy Update (January 20, 2023)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices are trying to base but so far have failed to break above resistance at around $80 per barrel. (Source: Barchart.com) Crude oil inventories rose 8.4 mb compared to a 2.0 mb draw forecast.  The SPR was unchanged, the first time since… Read More »

Weekly Energy Update (January 12, 2023)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to come under pressure on worries over economic growth, although there is some evidence that prices may be basing between $72 and $82 per barrel. (Source: Barchart.com) Crude oil inventories jumped 19.0 mb compared to a 3.0 mb draw forecast. … Read More »

Weekly Energy Update (December 15, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (This will be the last report of 2022; we will resume publication on January 12, 2023.) Crude oil prices continue to come under pressure on worries over economic growth.  There was likely some bullish positioning in front of the Russian price cap which is… Read More »

Weekly Energy Update (December 8, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to come under pressure on worries over economic growth. (Source: Barchart.com) Crude oil inventories fell 5.2 mb compared to a 3.9 mb draw forecast.  The SPR declined 2.1 mb, meaning the net draw was 7.3 mb. In the details, U.S.… Read More »

Weekly Energy Update (December 1, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have been falling on fears of weaker Chinese demand due to COVID issues.  We note that the futures market structure has moved into contango, where the deferred contracts trade at a premium to the spot.  This is a bearish market structure.… Read More »

Weekly Energy Update (November 17, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (The Weekly Energy Update will not be published next week due to Thanksgiving.  The report will return on December 1.)  Crude oil prices appear to be building in a base in the mid-$80s. (Source: Barchart.com) Crude oil inventories fell 5.4 mb compared to a… Read More »

Weekly Energy Update (November 10, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices appear to be building in a base in the mid-$80s. (Source: Barchart.com) Crude oil inventories rose 3.9 mb compared to a 0.3 mb build forecast.  The SPR declined 3.6 mb, meaning the net build was 0.3 mb. In the details, U.S.… Read More »

Weekly Energy Update (November 3, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices appear to be building in a base in the mid-$80s. (Source: Barchart.com) Crude oil inventories fell 3.1 mb compared to a 1.5 mb build forecast.  The SPR declined 1.9 mb, meaning the net draw was 5.0 mb. In the details, U.S.… Read More »

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