From This Week in Petroleum, here is a look at stock levels for oil and oil products:
Expected debt/GDP… WSJ
From a percent of GDP, the expected deficit looks historically large but manageable... From the Wall Street Journal, here...
Hedge fund performance… WSJ
Here is a chart showing equity hedge fund performance vs. the S&P, from The Wall Street Journal’s The Daily Shot:
Options on oil spreads update…
We saw some put liquidation in calendar spread options (WA) yesterday: Here is the Oct20/Oct21 spread:
WTI vol update…
Implied vol for WTI crude options settled down to 46.1 on Friday, a more normal number whatever that means... Average volume for June was only 97,333
Historic drop in US crude output… WSJ
Amrith Ramkumar, Wall Street Journal, discusses the decline in US oil output here... ”U.S. crude supply is falling at its quickest pace ever,