23
Sep

Friday Morning – Permian Players

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Market Sentiment Watch: Energyland remains quiet.  In today's post please find the natural gas storage review (another smaller than expected injection as the erosion of the storage overhang continues on the back of high Industrial and Electrical demand), an updated and expanded Permian Players Table, and some other odds and ends. 

Ecodata Watch:

  • We get the Markit PMI (flash) for September at 9:45 am EST (no forecast, last read was 52.0). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - Updated and augmented Permian Players Table
  5. Odds & Ends

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22
Sep

Thursday Morning

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Market Sentiment Watch: The Fed came and announced the expected no change move and Yellen's comments prompted a move lower in the dollar even with the acknowledgement that a rate is now more likely prior to year end. Noise in our view.  In today's post please find the oil inventory review (key points: a) much bigger than expected crude draw prompted by imports that still are not back to recent week levels, higher exports, and an ongoing slower than expected ebb into refiner maintenance season and b) a much bigger than expected gasoline draw on the back of record for time of year demand (again), weaker production levels, and subdued imports), the natural gas storage preview (expecting a much smaller than typical for time of year injection due largely to summer like heat), comments and a first cheat sheet on XEC, and some other odds and ends. 

Ecodata Watch:

  • We get jobless claims (F = 260,000, last read was 260,000),
  • We get Chicago Fed at 8:30 am EST (no forecast, last read was 0.27), 
  • We get existing home sales at 10 am EST (F = 5.48 mm, last read was 5.39 mm), 
  • We get leading indicators at 10 am EST (no forecast, last read was 0.4%).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - XEC
  5. Odds & Ends

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21
Sep

Wednesday Morning

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Market Sentiment Watch: Fed announcement day. Energy land news flow remains low. In today's post please find the oil inventory review (expecting a crude build on a bounce in imports but API noted another sharp drop in crude stocks last night so we'll see ... keys are strong product demand and a lack of sizable increase in Lower 48 oil production), the natural gas inventory preview (consensus calling for another pint sized injection compared to norms for the week), comments on Bakken/Eagle Ford/Permian small cap player ESTE, and some other odds and ends. 

Ecodata Watch:

  • We get the Fed announcement at 2 pm EST, 
  • We get Yellen's press conference at 2:30 pm EST. 

In Today’s Post:

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

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20
Sep

Tuesday Morning

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Market Sentiment Watch: As expected, market and group in wait and see mode regarding Yellen's press conference tomorrow. News flow in the group remains slow and we would expect it to begin to pick up next week again. In today's post please find a requested quick look at QEP, the early read on oil inventories, and some other odds and ends. 

Ecodata Watch:

  • We get Housing Starts at 8:30 am EST (no forecast, last read was 1.211), 
  • We get Building Permits at 8:30 am EST (no forecast, last read was 1.144).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today –  QEP
  4. Odds & Ends

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19
Sep

Monday Morning

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Market Sentiment Watch: Fed in focus this week. No change expected. Market moves will center on Yellen's press conference as more of the Fed moves towards future hikes. In energyland expect more focus on oil and OPEC rhetoric this week as we approach next week's sideline meeting in Algiers. Oil hovering towards the low end of our expected near term range augers for some form of agreement more than if it were near $50. In today's post please find The Week That Was and some other odds and ends. 

Ecodata Watch:

  • We get the Home builders' index at 10 am EST (no forecast, last read was 60).

The Week Ahead: 

  • Tuesday: Housing starts, building permits, 
  • Wednesday: Fed announcement and Yellen press conference,
  • Thursday: Jobless claims, Chicago Fed, existing home sales, leading indicators, 
  • Friday: Markit PMI (flash). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. The Week That Was
  4. Odds & Ends

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