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In today's post please find:

• the oil inventory review (positive side of neutral type report as weeklies go),
• the natural gas preview (consensus remans a little below our thoughts but gas was high last week and there is also an adjustment to base gas coming; next week expect an even smaller build),
• TALO - requested cheat sheet and comments,
• and some other odds and ends. 

Ecodata Watch:

• We get jobless claims at 8:30 am EST (F = 360,000, last read was 376,000),
• We get Philly Fed at 8:30 am EST (F = 30.0, last read was 31.5),
• We get leading economic indicators at 10 am EST (F = 1.3%, last read was 1.6%),
• We get the EIA Natural Gas Storage Report at 10:30 am EST. 
  

In Today’s Post:

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

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Market Sentiment Watch:

• Market eyes on Fed and Powell.
• Potentially on Biden and Putin meeting as well.
• Oil is extended here and needs to see implied demand pickup in the EIA weekly or risks further erosion of a faltering U.S. crack spread and stalling throughput.
• Natural gas could use a bit of pause. Today's number may be sloppy with a revision to base from working gas in the Pacific region. Demand continues to pick up seasonally and we're watching for price elasticity to show up on the generation segment.

In today's post please find:

• the oil inventory preview (improved character of the estimates since the initial read which looked a lot like a cut and past of the previous week's trajectories),
• the natural gas inventory preview (consensus is a bit below us (excluding the noise from a potential reclassification); look for a smaller yet build next week),
• comments on Origin,
• and some other odds and ends.

Ecodata Watch:

• We get building permits at 8:30 am EST (F = 1.73 mm, last read was 1.73 mm),
• We get housing starts at 8:30 am EST (F 1.63 mm, last read was 1.57 mm),
• We get the import price index at 8:30 am EST (F = 0.7%, last read was 0.7%),
• We get the EIA oil inventory report at 10:30 am EST,
• We get the Fed announcement at 2 pm EST followed by the Powell press conference.

In Today’s Post:

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

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In today's post please find:

• the very early read on natural gas inventories (consensus a little light to us which is fine, smaller sequential build expected and we expect a smaller one yet next week as well),
• MAXN comments and a cheat sheet,
• and some other odds and ends.
  

Ecodata Watch:

• We get retail sales at 8:30 am EST (F= -0.7% headline; 0.5% ex autos; last read was 0.0% headline; ex autos was -0.8%),
• We get PPI at 8:30 am EST (F = 0.5%; last read was 0.6%),
• We get Empire State at 8:30 am EST (F = 22.3; last read was 24.3),
• We get industrial production at 9:15 am EST (F = 0.5%; last read was 0.5%),
• We get capacity utilization at 9:15 am EST (F = 75.0%; last read was 74.6%),
• We get business inventories at 10 am EST (F = -0.1%; last read was -0.1%),
• We get the NAHB home builders' index at 10 am EST (F = 83; last read was 8.3). 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Stuff We Care About Today – MAXN, MGY, CRK, STEM, DCRC to SPAC Solid Power
4. Odds & Ends

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Market Sentiment Watch:

• Busy week on the eco-data front, 
• Oil looks to be in need of a pause (speculative position is elevated long more than usual now),
• Natural gas running on heat but also needs a pause.

In today's post please find:

• The Week That Was,
• The Five Things,
• and some other odds and ends.

In case you missed The Wrap please click here.

Ecodata Watch:

• We get the EIA DPR around 12 pm EST. 

The Week Ahead: 

• Tuesday - Retail sales, PPI, Empire State, industrial production, capacity utilization, business inventories, NAHB home builders' index, 
• Wednesday - Building permits, housing starts, import price index, federal reserve announcement, 
• Thursday - jobless claims, Philly Fed, leading economic indicators, 
• Friday - none scheduled. 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. The Week That Was
4. Stuff We Care About Today – The Five Things, ACTC, VWDRY, Shell
5. Odds & Ends

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Continue Reading »

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Hello. We'd like to invite you to take a test drive of the site. Please contact zman@zmanenergybrain.com

Holdings Watch:

• We added to two EV related names and one infrastructure name last week.
• The blotter is updated

Free Stuff Last Week: 

• BCEI - another common sense acquisition. 

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

Have a good weekend,

Z

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