13
May

Wrap – Week Ended 5/12/17

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The ZLT ended the week up 1% and is down 11.9% on the year. 

The XOP was up 1.3% on the week and is down 14.8% on the year. 

The Trading Blotter is up to date. 

 

Note the sharp rise in WTI short interest again this week, non-commercial (speculative) Nymex shorts up 31% for a two week rise of 60%. Good contrarian move that, just in front of the OPEC meet and greet. 

 

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10 Responses to “Wrap – Week Ended 5/12/17”

  1. 1
    Baylor Says:

    Oil boomlet in North dakota

    http://hosted.ap.org/dynamic/stories/U/US_BAKKEN_BOOMLET?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2017-05-13-10-34-16

  2. 2
    zman Says:

    re 1 – thanks

  3. 3
    zman Says:

    OMAN: OPEC, NON-OPEC HAVE INITIAL DEAL TO EXTEND OIL CUTS: KUNA.

  4. 4
    Baylor Says:

    Is this a reality we're going to have to deal with:

    https://reneweconomy.com.au/death-spiral-for-cars-by-2030-you-probably-wont-own-one-93626/

  5. 5
    zman Says:

    re 4 – he's from South Australia. I have no idea regarding his local situation. Otherwise, it's a ridiculous statement. 

  6. 6
    zman Says:

    Adding to 5 – Same group they cite point to being right on the enourmous uplift in solar. Many make that claim.  The enormous uplift is from a tiny base. 100% growth sounds great until you realize we're talking about going from 1% market share to 2% share. When I see comments about making oil, gas, coal obsolete by 2030 (12 years out), I just sort of cringe. Even if you go all autonomous I don;t see Americans giving up their autos. Why not just by a Tesla or a Ford that can drive itself when you want it to?  And finally, say you go all fleet owned autonomous.  Still going to need electricity to feed that. Makes a lot of sense for that power to come from natural gas. 

  7. 7
    zman Says:

    Saudi and Russia agree to extend cuts until March 2018. 

  8. 8
    zman Says:

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

  9. 9
    Baylor Says:

    Re 7 – that seems a pretty massive set of news. This has been the oddest economic mix recovery of my lifetime. Seems it almost never got back off the ground and we looked more like Japan of the last 25 years than America that always comes for.aring back. Hopefully we can get escape velocity over the next couple of years. 

  10. 10
    zman Says:

    The Monday post is up:

    http://zmansenergybrain.com/2017/05/15/monday-morning-saudi-russia-plan-production-cut-extension/

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