26
Nov

Wrap – Week Ended 11/25/16

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The ZLT was up 4% last week and is up 38.3% on the year. 

The XOP was up 3% last week and is up 31.1% on the year.

The OIH was up 3% last week and is up 17.6% on the year.

Natural gas peaked within our long held peak storage range (just within the top of due to weather). Otherwise the week was, as expected, fairly uneventful. Saudi bowed out of a pre November 30 Non OPEC meet and greet so we would not be surprised to see a spot of lackluster oil pricing early next week.  We continue to sit in the something-gets-done camp as we have long before Goldman made it fashionable. 

Housekeeping Watch:  We had technical difficulties last Thursday evening that left the primary site down half of Friday. While we try to avoid this kind of thing the world is an imperfect place and screws fall out all the time. Please bookmark the back up site just in case:  www.zmanbackup.wordpress.com.

Have a great rest of your long weekend, 

Z

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wrap-112516

 

2 Responses to “Wrap – Week Ended 11/25/16”

  1. 1
    brodway Says:

    http://www.marketwatch.com/story/this-revolution-will-continue-to-hammer-energy-prices-2016-11-23?siteid=yhoof2&yptr=yahoo

     

    Not sure this logic is so sound……the way i see it the article focuses on supply and not other factors that have an impact on the economics of a business such as demand, cost efficiencies, competitive advantage, gov't support of domestic production which may be reflected in legislation with a new supportive administration. Having an abundant supply of something doesn't mean one can't make money producing it and therefore, i don't agree with with the article's view of lower profits for oil producers. Profit is a function of cost and margins and if costs are lower, profits could be just is good if not better in a lower priced environment. If anyone is around please share views. 

  2. 2
    brodway Says:

    http://oilprice.com/Energy/Oil-Prices/Goldman-Sachs-Turns-Bullish-On-Oil.html

    Goldman making another call on oil…..they haven't been accurate on all of their calls, but thought i'd share their view

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