15
Mar

Week of 3/18/19-3/22/19 – Spring Break

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Market Sentiment Watch: Spring Break. In today's post please find The Week That Was and some other odds and ends. This post will see new sections as the week progresses. 

Ecodata Watch:

  • We get home builders' starts at 10 am EST (last read was 62).
  • We get the EIA Drilling Productivity Report at 12 pm EST.  Looking for a more muted tone here on U.S. shale growth in the wake of the STEO and last week's downtick in the EIA Weekly guesstimate for Lower 48 oil production. 

The Week Ahead: 

  • Tuesday - Housing starts, factory orders, 
  • Wednesday - Fed announcement and Powell press conference, 
  • Thursday - Jobless claims, Philly Fed, leading indicators, 
  • Friday - existing home sales, wholesale inventories, federal budget. 

In Today’s Post:

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

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15
Mar

Wrap – Week Ended 03/15/19

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The ZLT rebounded 7.5% last week to close up ~ 16% YTD

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

The Blotter is updated. 

Have a good weekend. 

 


15
Mar

Friday Morning – 4Q18 So Far This Quarter Final Edition + Natural Gas Inventories

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Market Sentiment Watch: Ides of March. In today's post please find the the natural gas review (storage now below 2018's trough level despite averaging over 10 Bcfgpd above year ago dry gas production; much smaller withdrawal expected next week as the season starts to wind down), comments on the IEA monthly, the final edition of 4Q18 So Far This Quarter (40 companies), and some other odds and ends. 

Ecodata Watch:

  • We get Empire State at 8:30 am EST (no forecast, last read was 8.8),
  • We get industrial production at 9:15 am EST (F = 0.4%, last read was -0.6%),
  • We get capacity utilization at 9:15 am EST (F = 78.5%, last read was 78.2%),
  • We get job openings at 10 am EST (no forecast, last read was 7.4 mm),
  • We get consumer sentiment at 10 am EST (F = 95.0, last read was 95.5). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - 4Q18 So Far This Quarter
  5. Odds & Ends

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14
Mar

Thursday Morning – MRO, OPEC

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Market Sentiment Watch: U.S. / China talks said to be delayed. Note the Iran/Venezuela/U.S. comments in the Commodity Watch section below.  In today's post please find the oil inventory review (unexpected crude draw, bigger than expected gasoline draw, shift by EIA to lower L48 oil weekly guesstimate), the natural gas preview (consensus holding out for a really big 200+ Bcf withdrawal), comments on the OPEC Monthly (benign changes), requested comments and a cheat sheet for MRO, and some other odds and ends. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 225,000, last read was 223,000),
  • We get import prices at 8:30 am EST (no forecast, last read was 0.5%), 
  • Retail sales have been delayed,
  • We get new home sales at 10 am EST (F = 616,000, last read was 621,000),
  • Business inventories have been delayed. 

In Today’s Post:

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

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13
Mar

Wednesday Morning – MR, Gassy Players Update

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Market Sentiment Watch: Markets should be eying trade talks (lack of progress with EU, unknown real progress with China) and Brexit. In today's post please find the oil inventory preview (directionally normal report expected for EIA; API was more bullish), the natural gas preview (potentially the last of the big withdrawals of the season, moving us into a good price support position), comments on the MR quarter (solid quarter, reiterating pro forma guidance), and some other odds and ends. 

Ecodata Watch:

  • We get durable goods at 8:30 am EST (F = -0.1%, last read -0.1%),
  • We get core capital goods at 8:30 am EST (no forecast, last read was -1.0%),
  • We get PPI at 8:30 am EST (F = 0.2%, last read was -0.1%),
  • We get construction spending at 10 am EST (F = 0.5%, 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 - MR, Gassy Players
  4. Odds & Ends

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