08
Dec

Wrap – Week Ended 12/07/18

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The Blotter is updated (Blotter 2) 

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We will have summary OPEC+ meeting comments in the Monday post. Other questions and comments will be addressed in the Monday post. 

 

Please look for an important Holiday Housekeeping Watch in the Tuesday post. 

 

In today's Wrap we have included the natural gas table and graphs and a look at this past week's natural gas supply and demand given reporting delays that removed them from Friday's post.  The usual Wrap table is at the bottom. 

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4 Responses to “Wrap – Week Ended 12/07/18”

  1. 1
    zman Says:

    From Monday's post

    Price Deck Watch:  The Street is starting to warm to persistent low storage.  Consensus for 2019 jumped up to $3.10 over the last week from $3.01.  This is the first time we recall the Street being over the $3 mark as an average for 2019 in recent history and certainly when anyone in equity land was modeling for the year. We continue to employ our $3.25 2019 deck for modeling purposes.

  2. 2
    zman Says:

    From Monday's post:

    Price Deck Watch: -The Street is finally starting to cut it's 2019 oil deck.  Last week it fell a buck to $68.  We remain at $60.  The strip is now $53.71.  We expect the Street to slow the cuts near $65 soon. We expect oil prices in the strip to start to drift up towards our estimate for 2019 soon. We have maintain this $60 deck since December of 2017.  The Street ended 2017 below us for 2019 and raced above last summer.  Details are included in The Week That Was below. 

  3. 3
    zman Says:

    Special OPEC+ Wrap section in tomorrow's post. 

    Working to get XOG cheat sheet update in tomorrow's post as well along with the regular The Week That Was section. 

  4. 4
    zman Says:

    We will have XOG in tomorrow's post. 

    Stepping out for a couple of hours. 

    Prompt NG up a dime at $4.61

    https://www.investing.com/commodities/natural-gas

    WTI essentially flat early at $52.67

    https://www.investing.com/commodities/crude-oil 

     

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