23
Aug

Wrap – Week Ended 8/21/15

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Questions and comments will be addressed under the Wrap in the Monday post.

Please note price deck changes in tomorrow's post.  

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8 Responses to “Wrap – Week Ended 8/21/15”

  1. 1
    brodway Says:

    http://www.bloomberg.com/news/articles/2015-08-23/iran-favors-holding-emergency-opec-meeting-zanganeh?cmpid=yhoo

    rehash of Iranian production talk…i thought that Saudis said they can go ahead and pump away….OPEC did not instruct them not to.

    why is it then that they are requesting an emergency OPEC meeting?

  2. 2
    zman Says:

    re 1 – pretty typical Iran reaction – they want others to cut. 

    From tomorrow's post – the Genscape news just hit

    • Refinery Watch 1: BP Whiting – Genscape monitoring increased activity around the current offline large crude distillation unit. 
    • Refinery Watch 2: PBF – Delaware City Delaware – gasoline production to be down at least a month at the 65,000 bpd unit.  That's gasoline so that's probably about 100,000 bopd out of the total refinery's 185,000 bopd capacity that is now offline. Or about 0.5% of the nation's refining capacity.  
    • Refinery Watch 3: HollyFrontier fire over the weekend at Tulsa refinery, company says no impact on operations. 
  3. 3
    life’s-a-gas Says:

    McClendon running out of gas:

    http://www.bloomberg.com/news/articles/2015-08-17/mcclendon-s-marcellus-misadventure-exposes-lenders-to-more-pain

  4. 4
    zman Says:

    re 3 – thanks, never saw him as salable in the public equity market, not after all the baggage last time. 

    Oil hanging $40

    http://www.cx-portal.com/wti/oil_en.html

  5. 5
    mattlee Says:

    Meltdown.

  6. 6
    zman Says:

    Yeah, been watching the futures for awhile, down, down, down

    Oil bounced off of $39 earlier

    DJIA down 478 and SPX down 56 now. 

  7. 7
    Baylor Says:

    $10-20 oil

    http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com//news/energy/why-crude-oil-prices-still-have-a-long-way-to-fall-gary-shilling

  8. 8
    Baylor Says:

    Dow down 674

    sp futures down abt 80

    gonna be ugly

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