Base metal prices continue their upward trajectory. Meanwhile, we have identified several potentially bullish items (and a few bearish items) related to growing demand and rising supply-chain costs. Metals Factors…
The theme of large oil independents and supermajors for 2021 is to keep production flat, pay down debt, and create more free-cash flow. For a sample of large producers who…
Widespread cold throughout most of the central U.S. has caused freeze-offs at the wellhead. The sharp drop in production totaled over 5 Bcf/d as of February 12 versus the previous…
Crude inventories at Cushing have decreased by over 10 MMBbls or 300 MBbl/d during January, while PADD 3 (Gulf Coast) inventories also declined by 12 MMBbls. Collectively, Cushing and PADD…
The OPEC Joint Ministerial Monitoring Committee (JMCC) and Joint Technical Committee met this week to review global oil fundamentals and the best path to reduce global inventories. WTI was trading…
Lower supply expectations in the U.S. and abroad, and expectations for a recovery in global oil demand, will support prices through the end of 2021, according to the EIA.The EIA…
Despite a 22% year-over-year decrease in rigs operating, more wells are being completed, and production is rising across the Haynesville area of East Texas and Louisiana. Production readings from gas-pipeline…
A decline in Chicago gas basis this month has rippled through the Rockies and Midcontinent. Colorado Interstate Gas (CIG) prices have fallen about 20c since a peak of -$0.025 only…
Dominion South Basis (DomS) has come under extreme pressure following a sharp rise in Appalachia gas output. Prompt-month DomS basis has dropped by about 75c to -$1.231 since late October.…
With the recent moves in LNG, we decided to change a few assumptions in our proprietary supply and demand model. If LNG maintains recent rates, the extra demand would easily…