Weekly Energy Update

Weekly Energy Update (May 6, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Tightening supplies have lifted crude oil prices toward the top of the recent trading range. (Source: Barchart.com) Crude oil inventories declined 8.0 mb compared to the 2.0 mb draw expected.  The SPR fell 1.0 mb, meaning without the addition from the reserve, commercial inventories… Read More »

Weekly Energy Update (April 29, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After the recent rally in prices, the market is consolidating recent gains and establishing a larger trading range between $68 to $58 per barrel. (Source: Barchart.com) Crude oil inventories rose 0.1 mb compared to the 1.0 mb draw expected.  The SPR fell 1.4 mb,… Read More »

Weekly Energy Update (April 22, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After the recent rally in prices, the market is consolidating recent gains and establishing a larger trading range between $68 to $58 per barrel. (Source: Barchart.com) Crude oil inventories rose 0.6 mb compared to the 3.4 mb draw expected.  The SPR fell 0.7 mb,… Read More »

Weekly Energy Update (April 15, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After consolidating for a month, prices are starting to move higher. (Source: Barchart.com) Crude oil inventories fell 5.9 mb compared to the 2.4 mb draw expected.  The SPR fell 1.1 mb, meaning without the addition from the reserve, commercial inventories would have declined 7.0… Read More »

Weekly Energy Update (April 8, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continue to consolidate in a tight range between $62 and $58 per barrel. (Source: Barchart.com) Crude oil inventories fell 3.5 mb compared to the 2.0 mb draw expected.  There was no change in the SPR.  Refinery operations have normalized to pre-Texas freeze levels.… Read More »

Weekly Energy Update (April 1, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After peaking in early March, prices have pulled back to pivot around $60 per barrel.  Although recent builds in crude oil are bearish, expectations for stronger economic growth should be supportive for prices. Crude oil inventories fell 0.9 mb compared to the 1.7 mb… Read More »

Weekly Energy Update (March 25, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices have declined over $10 per barrel since peaking on March 8.  Worries about slowing European growth and a slower than expected recovery in refinery operations after the Texas freeze have weighed on prices. Crude oil… Read More »

Weekly Energy Update (March 18, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices are consolidating in the low $60s. Crude oil inventories rose 2.4 mb which was in line with forecast.  There was no change in the SPR.  We did see a recovery in refinery operations but not… Read More »

Weekly Energy Update (March 11, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices are consolidating in the low $60s. Crude oil inventories rose again, defying expectations of a draw.  Stockpiles increased 13.8 mb when a draw of 3.0 mb was forecast.  There was no change in the SPR. … Read More »

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