. . Market Sentiment Watch: Expecting weak U.S. economic data all week. U.S. Covid-19 data will worsen near term. See comments on the PXD and PE joint letter to the Texas Railroad Commission below. Overnight China announced better than expected, expanding, manufacturing activity with the official PMI at 52.0 vs expectations of 45.0 and 35.7 […]
. . Market Sentiment Watch: Senate passed the $2T+ Cares Act last night. It moves on to the House where a vote is likely at earliest on Friday. The word “Oil” is not in the bill as far as we can tell and as noted before the provision to refill the SPR was excised. TSA […]
. . Market Sentiment Watch: Sloppy market conditions persist. OPEC+ waiting on Russia. In today’s post please find: comments on the OPEC+ decision (delays happening at post time as Russia has initially rejected deal), the the natural gas review (in line, look for a smaller draw next week but we are still on target for […]
. . Market Sentiment Watch: Cautious market looking for a bounce after posting the worst single day loss in two years. In today’s post please find the early read on oil inventories, the very early read on natural gas inventories (consensus looking for a withdrawal modestly above last week’s pull as expected), comments on the […]
. . Market Sentiment Watch: Coronavirus continues to dominate oil energy related end of the market and today a reported medical breakthrough is sending futures (temporarily?) higher. Still waiting on thoughts from OPEC experts. In today’s post please find the oil inventor preview (expected to be better than the five year average levels for this […]
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