Research & News
Weekly Energy Update (March 23, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil decisively broke its recent $72-$82 per barrel trading range. Problems in the banking sector are raising fears of a global economic slowdown. Classic technical analysis would suggest that the former support at $72 will become resistance; in other words, this level will… Read More »
Bi-Weekly Geopolitical Report – Update on the U.S.-China Military Balance of Power (March 20, 2023)
Patrick Fearon-Hernandez, CFA | PDF In early 2021, we published a series of reports assessing the overall balance of power between the United States and China in military, economic, and diplomatic terms. Looking comprehensively at both countries’ power and sources of power, we judged that the U.S. retains the greater capacity to influence the world… Read More »
Weekly Energy Update (March 16, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil decisively broke its recent $72-$82 per barrel trading range. Fears of recession, exacerbated by widespread banking problems, weighed heavily on oil prices. (Source: Barchart.com) Crude oil inventories rose 1.6 mb on forecast. The SPR was unchanged. In the details, U.S. crude oil… Read More »
Asset Allocation Bi-Weekly – The Importance of the Policy Mix (March 13, 2023)
by the Asset Allocation Committee | PDF Based on the strong U.S. economic data so far this year, investors have again become worried that the Federal Reserve will continue to hike interest rates aggressively and keep them high for a prolonged period. We agree that is a significant risk, and the rate hikes to date… Read More »
Weekly Energy Update (March 9, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil remains in a trading range between $72-$82 per barrel. (Source: Barchart.com) Crude oil inventories fell 1.7 mb compared to a 1.9 mb build forecast. The SPR was unchanged. In the details, U.S. crude oil production declined 0.1 mbpd to 12.2 mbpd. Exports… Read More »
Bi-Weekly Geopolitical Report – Enter the Petroyuan (March 6, 2023)
Bill O’Grady | PDF In December, General Secretary Xi made a state visit to the Kingdom of Saudi Arabia (KSA) where he discussed the potential for trading oil in CNY. Although nothing formal was signed on this issue, Xi suggested that the KSA should trade oil and gas using the CNY for settlement. Talks between… Read More »