15
Oct

Monday Morning

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Market Sentiment Watch: Bigger week on the domestic economic data front this week. In energyland, look for news flow to start to pick up this week and for SLB to kick off the 3Q reporting season on Friday. In today's post please find comments on interesting items from last week under the Commodities Watch section as well as more extensive comments in The Week That Was and some other odds and ends. 

Ecodata Watch:

  • We get retail sales at 8:30 am EST (no forecast; prior read was 0.1% headline, 0.3% ex autos),
  • We get Empire State at 8:30 am EST  (no forecast, last read was 19),
  • We be get business inventories at 10 am EST (no forecast, last read was 0.6%). 

The Week Ahead: 

  • Tuesday - Industrial production, capacity utilization, job openings, home builders' index, 
  • Wednesday - Housing starts, building permits, FOMC Minutes for the end of September meeting, 
  • Thursday - Jobless claims, Philly Fed, leading economic indicators, 
  • Friday - Existing home sales.  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Stuff We Care About Today – REPX
  5. Odds & Ends

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13
Oct

Wrap – Week Ended 10/12/18

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

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12
Oct

Friday Morning

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Market Sentiment Watch: Broad markets remain spooked by rates but caught a lift after hours yesterday as leaders from the U.S. and China agreed to meet. Energy markets remain concerned over 2019 demand growth. Energyland remains typically quiet before the coming storm of the 3Q reporting season which starts at the end of next week. In today's post please find the the natural gas review (in line report, leaves inventories > 600 Bcf in deficit to the five year average with 5 to 6 weeks left in the injection season; look for a modestly smaller injection next week), the oil inventory review (neutral leaning negative report ... as weeklies go, see below), short form updates for two upstream players groups, and some other odds and ends.   

Ecodata Watch:

  • We get import prices at 8:30 am EST (no forecast, last read was 0.6%),
  • We get consumer sentiment at 10 am EST (F = 100.6, last read was 100.1). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Oil Inventory Review
  5. Stuff We Care About Today - Eagle Ford, Gassy Players
  6. Odds & Ends

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11
Oct

Thursday Morning – Dualing Inventory Reports

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Market Sentiment Watch: Weak open on tap after yesterday's massive selloff. Broad markets remain fearful of rates and of further technical drops. Overnight President Trump said the Fed has "gone loco" which doesn't exactly inspire confidence.  Energy was gaining traction until the broad markets cracked but we expect continued sawing action in our names medium term. Due to the holiday on Monday we get both EIA inventory reports today. In today's post please find the oil inventory preview (API was bearish over night ... but only in a vacuum ... they were well off EIA last week and caught up with this report), the natural gas inventory preview (another week, another report that keeps storage in massive deficit territory), a table outlining major changes to the OPEC Monthly (bearish tilt - negative demand revisions in 2018 and 2019, increased 2018 but slightly lower growth forecast for non OPEC supply, all leading to a lower than previously expected call on OPEC in both years), an expanded version of the Permian Players Group 1 short form multiples table, and some other odds and ends. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 205,000, last read was 207,000),
  • We get CPI at 8:30 am EST (headline and core forecasts = 0.2%; last month they were 0.2% and 0.1% respectively).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - Permian Players Group 1 Short Form Update, REN
  4. Odds & Ends

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10
Oct

Wednesday Morning – IPO Preview (REPX)

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Market Sentiment Watch: Energy gaining traction. In today's post please find the oil inventory preview (builds in oil and draws in products expected for tomorrow's report), the natural gas inventory preview (consensus holding below 5 year average build levels), an IPO preview (another off the beaten track Permian Player) and some other odds and ends.  Gulf Coast friends our thoughts are with you today. 

Ecodata Watch:

  • We get PPI at 8:30 am EST (F = 0.2%, last read was -0.1%),
  • We get wholesale inventories at 10 am EST (no forecast, last read was 0.6%). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - IPO Preview
  4. Odds & Ends

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