Commodities Archive

Consumer credit way down and downward revisions as well

As I suggested previously, the well hyped ‘credit acceleration’ has fizzled indicating most GDP growth forecasts could be grossly overstated: Highlights Revolving credit outstanding had been edging higher in what had been a good indication for consumer spending but not in August, slipping $0.2 billion to end five straight months of gains. ...Read More

Saudis cut price- target could be $75?

I missed this when it first came out a few days ago. This could be serious, as the plan could be to cut price low enough to put the higher priced producers out of business, which they can easily do. This includes all the shale and tar sands producers, for example. And ...Read More

saudi oil output

Still strong net demand for Saudi crude so prices don’t go down unless they decide to lower them, etc. Full size image ...Read More

nat gas prices

If the price of natural gas happens to go back towards $10, the US’s ‘energy advantage’ pretty much goes away. And it’s becoming increasingly legal to export it to hurry that day… So let’s hope for the best! ...Read More

Comments on research report

From DB, Comments below: Commentary for friday: the second print on Q2 GDP growth showed a significant upward revision to +2.5% from +1.7% as previously reported. Recall that growth was only +1.1% in Q1. After the 3rd downward revision Given that the deflator was revised a tenth higher (0.8% vs. 0.7% as ...Read More

Oil vaults on refinery shutdown, US oil settles above $106

Yet another stupid headline, seems. Refiners are buyers of crude… Oil vaults on refinery shutdown, US oil settles above $106 ...Read More

Brent-WTI

>    >   (email exchange) >    >   On Wed, Jul 10, 2013 at 7:42 AM, Michael wrote: >    >   Your Brent-WTI convergence call at the opening of the Seaway pipeline was one of the >   best calls I ever saw you make. The timing was beautiful. I never even heard one >   industry person make that call either. ...Read More

Saudis still firmly in control of price

Full size image ...Read More

gold: not enough qe…

Wonder when they stop calling it money printing… Full size image ...Read More

Saudi production

Saudi output graph ...Read More