Energy Reports

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 »

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 »

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 »

Weekly Energy Update (May 12, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have been volatile over the past few days.  A number of factors have been at play. However, the chart suggests a price range is developing between $100 to $110 per barrel. (Source: Barchart.com) Crude oil inventories unexpectedly rose 8.5 mb compared to… Read More »

Weekly Energy Update (May 5, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF It appears oil prices are attempting to create a trading range between $105 to $95 per barrel.  That may hold until the SPR release is complete. (Source: Barchart.com) Crude oil inventories unexpectedly rose 1.3 mb compared to a 0.2 mb draw forecast.  The SPR… Read More »

Weekly Energy Update (April 28, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF It appears oil prices are attempting to create a trading range between $105 to $95 per barrel.  That may hold until the SPR release is complete. (Source: Barchart.com) Crude oil inventories unexpectedly rose 0.7 mb compared to a 0.3 mb draw forecast.  The SPR… Read More »

Weekly Energy Update (April 21, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices did break out of a descending triangle, which is bullish, but for the most part, we look for prices to be rangebound for the next six months during the SPR withdrawal. (Source: Barchart.com) Crude oil inventories unexpectedly fell 8.0 mb compared to… Read More »

Weekly Energy Update (April 14, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices appear to be settling into a trading range. (Source: Barchart.com) Crude oil inventories rose 9.4 mb compared to an unchanged forecast.  The SPR declined 3.9 mb, meaning the net build was 5.5 mb. In the details, U.S. crude oil production is unchanged… Read More »

Weekly Energy Update (April 7, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices remain volatile, moving on war news.  The SPR release will likely be bearish for prices.  Technically, the oil chart appears to have a descending triangle, which is often a bearish pattern. (Source: Barchart.com) Crude oil inventories rose 2.4 mb compared to a… Read More »

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