Weekly Energy Update

Weekly Energy Update (December 17, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF A note to readers: The Weekly Energy Update will go on holiday hiatus following today’s report and will return on January 7, 2021.  From all of us at Confluence Investment Management, we want to wish you a Merry Christmas and Happy New Year!  See… Read More »

Weekly Energy Update (December 10, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices are consolidating after the late November rally. Commercial crude oil inventories unexpectedly jumped 15.2 mb when a 1.0 mb draw was expected.  The SPR fell 0.1 mb; there is still 3.1 mb of storage in… Read More »

Weekly Energy Update (December 3, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end of the current trading range. Commercial crude oil inventories fell 0.7 mb when a 1.7 mb… Read More »

Weekly Energy Update (November 19, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (N.B. Due to the Thanksgiving Day holiday, the next report will be published on December 3.) Here is an updated crude oil price chart.  Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end… Read More »

Weekly Energy Update (November 13, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end of the current trading range. Commercial crude oil inventories rose 4.3 mb when a 2.0 mb… Read More »

Weekly Energy Update (November 5, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  After dipping below the $37.00/$42.00 range, prices have returned to that band.  A key reason is that OPEC+ is considering additional production restrictions. Commercial crude oil inventories fell 8.0 mb when a 2.0 mb build was… Read More »

Weekly Energy Update (October 29, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices remain rangebound but are testing the lower boundary of the range. Commercial crude oil inventories rose 4.3 mb when a 1.5 mb build was expected.  The SPR declined 0.7 mb; since peaking at 656.1 mb… Read More »

Weekly Energy Update (October 22, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices remain rangebound. Commercial crude oil inventories fell 1.0 mb when a 2.0 mb build was expected.  The SPR declined 0.8 mb; since peaking at 656.1 mb in July, the SPR has drawn 16.5 mb.  Given… Read More »

Weekly Energy Update (October 16, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart.  Prices remain rangebound. Commercial crude oil inventories fell 3.8 mb when a 2.0 mb decline was expected.  The SPR declined 1.2 mb; since peaking at 656.1 mb in July, the SPR has drawn 15.3 mb.  Given… Read More »

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