13
Apr

Wrap – Week Ended 4/12/19

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ZLT up 3.1% on week, up 23.2% YTD as the 1Q19 earnings season approaches.  Not a subscriber? We can fix that. It's cheaper than a cup of coffee a day and better for you. Contact zman@zmansenergybrain.com

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The trading blotter is updated.

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Positions are updated here.

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12
Apr

Friday Morning – WIOWIO, Chevron Buys Anadarko

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Market Sentiment Watch: Chevron takes out major independent Anadarko for $50 B TEV. In today's post please find the the natural gas review (in line to slightly light injection and well light of our expectations from a week ago (again); next week looking for a bigger number), part 1 of the return of the WIOWIO (our quick take on Why I Own, What I Own), and some other odds and ends. 

Ecodata Watch:

  • We get the import price index at 8:30 am EST (no forecast, last read was 0.6%),
  • We get consumer sentiment at 10 am EST (F = 97.5, last read was 98.4). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Natural Gas Inventory Review 
  4. Stuff We Care About Today - WIOWIO Part I, CVX/APC
  5. Odds & Ends

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11
Apr

Thursday Morning

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Market Sentiment Watch:  In today's post please find the oil inventory review (big crude build but throughput is ramping and net imports remain stalled; record for time of year gasoline demand sends gasoline stocks into deficit to five year average territory for the first time since January 2018), IEA monthly comments, the natural gas preview, comments on the upcoming 1Q19 reporting season, and some other odds and ends. 

Ecodata Watch:

  • We get Jobless Claims at 8:30 am EST (F = 210,000, last read was 202,000),
  • We get PPI at 8:30 am EST (F = 0.3%, last read was 0.1%).

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - 1Q19 thoughts, TA comments
  5. Odds & Ends

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10
Apr

Wednesday Morning – AR, Gassy Players

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Market Sentiment Watch: Energy eyes on Venezuela (another national power outage), Libya (fighting continues around Tripoli), the increasing possibility of Iran waivers, and today's OPEC monthly.  In today's post please find a cheat sheet update for NGL and natural gas size player AR, a Gassy Players update table, the oil inventory preview (another build expected for crude with larger product draws), the natural gas inventory preview (consensus growing slightly from the early read but still smaller than our basic math), comments on the OPEC monthly (minor tweaks as expected - demand ebb is very modest to date ... still, the Call on OPEC continues to slip with each monthly report),  and some other odds and ends. 

Ecodata Watch:

  • We get CPI at 8:30 am EST (heading forecast = 0.4%, last read 0.2%, core CPI forecast = 0.2%, last read 0.1%),
  • We get the FOMC minutes at 2 pm EST,
  • We get the federal budget at 2 pm EST (no forecast, last read was -$125 B). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - AR, Gassy Players Update
  4. Odds & Ends

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09
Apr

Tuesday Morning – HPR

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Market Sentiment Watch: Slow news day at the company level. Oil is above our near term expected range. Russia is pointing to all options being on the table for OPEC+ in June (a little cooling action language) and the U.S. is threatening to sanction the European Union. In today's post please find an updated cheat sheet with comments for HPR (we added to the position last week), quick comments on the CPE asset sale, and some other odds and ends. 

Ecodata Watch:

  • NFIB small business came in at 101.8 vs a prior reading of 101.7,
  • We get job openings at 10 am EST (no forecast, last read was 7.6 mm). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today –  HPR, CPE
  4. Odds & Ends

Click the link directly below this to ...

Continue Reading »

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