Longer but Lackluster… WSJ

by Jim Colburn • Thursday, March 29, 2018

From the Wall Stree Journal’s The Daily Shot…

 

 

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Precious metal… The Economist

by Jim Colburn • Wednesday, March 28, 2018

Cobalt:

The story is good too:  https://www.economist.com/news/finance-and-economics/21739161-nickel-could-make-good-substituteprovided-car-batteries-dont-catch-fire-what-if

 

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Liquified natural gas exports quadrupled in 2017… EIA

by Jim Colburn • Tuesday, March 27, 2018

Here is the EIA’s Today in Energy:

 

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Virtu vs. VIX

by Jim Colburn • Tuesday, March 27, 2018

Virtu is an electronic market maker or liquidity provider on many exchanges and many asset classes across the world… How have they done with the recent increase in volatility?  (And, of course, this is NOT a recommendation to buy or sell this stock!)

From http://Barchart.com

From the WSJ:

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Days supply… EIA

by Jim Colburn • Friday, March 23, 2018

Stocks divided by daily demand or “days of supply” helps out stock levels in context with current demand… Here, from the EIA’s data, are days of supply for crude (still elevated), gasoline (seasonally in line) and distillates (balanced):

While crude oil still looks out of balance, days of supply does not include exports:

https://www.eia.gov/petroleum/weekly/

 

 

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Gasoline volume sales/our changing culture… Advisor Perspectives

by Jim Colburn • Thursday, March 22, 2018

Advisor Perspectives has a nice piece explaining gasoline sales over time, here…  Yes, gasoline sales are sensitive to price and economic growth:

This chart shows how sales per capita have dropped sharply:

 

Advisor Perspectives explains:

”In addition to improvements in fuel efficiency, declines in gasoline consumption per capita can be attributable in large part to some powerful secular changes in US demographics and culture in general:

We have an aging population leaving the workforce, which we clearly see in the sustained contraction in the employment-population ratio.
There is growing trend toward a portable workplace and the ability to work from home.
Social media has provided powerful alternatives to face-to-face interaction requiring transportation (Internet apps, games, the ubiquitous mobile phone for talk and texting).
There has been a general trend in young adults to drive less (related to points two and three above). See this report at the U.S. PIRG website for details.
The US is experiencing accelerating urban population growth, which reduces the per-capita dependence on gasoline.”

 

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May WTI $57 put very active yesterday…

by Jim Colburn • Thursday, March 22, 2018

The May WTI $57 put stood out as the most actively traded option on the exchange yesterday, over 23,000 traded, settling at $.10:

Here is the CME’s option tool:  http://www.cmegroup.com/tools-information/quikstrike/options-most-active-strikes.html

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Refinery runs are elevated.. WSJ

by Jim Colburn • Thursday, March 22, 2018

Refinery runs are elevated for this time of year… Here is the Wall Street Journal’s The Daily Shot with a telling chart from Princeton Energy Advisors:

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Cushing stocks vs April/May WTI…

by Jim Colburn • Wednesday, March 21, 2018

If you knew Cushing would draw over the past quarter like this:

Would you expect April/May WTI to go out like this?:

The top chart is from here:  https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPC0_SAX_YCUOK_MBBL&f=W

The bottom chart:  https://www.barchart.com/futures/quotes/CLJ18/technical-chart?plot=LINE&volume=contract&data=DO&density=M&pricesOn=1&asPctChange=0&logscale=0&sym=CLJ18-CLK18&grid=1&height=500&studyheight=100&isSpread=1

 

 

 

 

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US petroleum product exports, 2017… EIA

by Jim Colburn • Wednesday, March 21, 2018

in pictures, here, from the EIA’s This Week in Petroleum:

 

 

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