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The ZLT was up 5.7% last week and is down 15.1% on the year. We remain 20% in cash.
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The ZLT positions and performance pages is updated.
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Questions and comments under The Wrap will be addressed in the Monday post.
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Interesting Reading Watch - Saudi power struggle
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Wondering if that NAT Gas short position is a contrarian indicator at this point. We got a small number coming next week.
Borrowed:
I am able to see the traffic in GOM starting yesterday. LULU which arrived several weeks back is the only VLCC that I see that is full. Two more are scheduled for LOOP for the current week.
On the other hand, I saw two VLCCs that left GOM with US crude last week. One for China and one for Korea. There are several empty VLCC's waiting to be loaded with US crude.
Refinery run rates will increase this week and back up to full next week from the IIR data.
Crude draw will continue at record pace.
November 5th, 2017 at 11:48 amQuestion is for how long and to what magnitude it continues
November 5th, 2017 at 4:25 pmRe 1 – we have a decent shot at finishing under or right at 3,800
November 5th, 2017 at 5:30 pm