20
Feb

Wrap – Week Ended 2/19/21

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A rare week in Texas and much of the US Lower 48 roiled energy markets.   Renewables. especially solar names, retreated after sharp gains YTD while traditional energy benchmarks inched higher and the SPX retreated slightly.  CFTC data for natural gas show speculative net longs in natural gas holding near the cycle high.  With a likely second largest withdrawal on record to reported this coming Thursday and with production off much more than exports that makes sense.  This made sense before the weather anomaly as the trajectory of supply and demand was already medium term price supportive and there are not enough completions going on at present to maintain volumes (see the drilling and completions table below).

Free Stuff Last Week:

Holdings Watch:

  • The Blotter is updated
  • The ZLT was down 4% last week and is up 29.9% YTD.

The calendar page is updated.

Activity through January remained subdued. 

Questions under this post will be addressed in the Monday post. Questions about this site can be directed to zman@zmansenergybrain.com. Have a good weekend,

Z

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One Response to “Wrap – Week Ended 2/19/21”

  1. 1
    zman Says:

    QS’s Jagdeep on Bloomberg yesterday discussing going from 1 layer to 4, battery shortages, and the road ahead.

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