Oil Archive

Oil Prices, RT Interview, Revenue Misses

No letup yet as Saudi discounts continue: My RT interview on the price of oil here. Seems suddenly everyone is missing on revenues? Total sales (less inventory draw down)= GDP AT&T warns of revenue miss in Q3 ...Read More

CPI, Empire State Survey, Philly Fed, Brent Crude Price, Previous Banking Post

CPI, Empire State Survey, Philly Fed, Brent Crude Price, Previous Banking Post Consumer Price Index Empire State Mfg Survey Highlights Minus signs sweep the Empire State report with the headline at minus 11.36 which is more than 1 point below Econoday’s low end estimate. Looking at individual readings, new orders are in ...Read More

Exports, Bank Revenues, Chips, Japan, Mtg Purchase Apps, Oil Comment

At U.S. Ports, Exports Are Coming Up Empty Oct 13 (WSJ) — In September, the Port of Long Beach Calif. handled 197,076 outbound empty boxes. September was the eighth straight month in which empty containers leaving Long Beach outnumbered those loaded with exports. Last month, however, Long Beach and the Port of ...Read More

Saudi Price Cut, Domestic Car Sales, Commercial Paper

This is how they would start a downward price spiral if that’s what they wanted: Saudi Aramco Cuts Crude to Asia, U.S. Amid Weak Demand By Anthony Dipaola Oct 4 (Bloomberg) —Saudi Arabia cut pricing for November oil sales to Asia and the U.S. as the world’s largest crude exporter seeks to ...Read More

Exports, Energy Layoffs, Tax data, Restaurant Performance Index

This is a prelude to the reality of soft exports and rising imports impacting GDP reports: U.S. Goods Exports Plummet as Dollar Rises, Commodity Prices Fall Sept 29 (WSJ) — Exports of goods slid a seasonally adjusted 3.2% to $123.09 billion as overseas sales of industrial supplies—which includes oil—autos, consumer goods and ...Read More

Credit check, Jobs comment, ECRI update, Saudi statement

Commercial paper nudges down a bit, bank loans up a bit, so not much happening on balance: BLS Jobs Situation Disappointing in August 2015. Growth Rate of Employment Continues to Slow. By Steven Hansen The BLS jobs report headlines from the establishment survey was disappointing. The unadjusted data shows growth is at ...Read More

France PMI, Germany PMI, EU PMI, EU Retail Sales, UK service PMI, US Trade, ISM Non Manufacturing, Saudi Pricing

France : PMI Composite Highlights French private sector activity in August expanded at a significantly slower pace than indicated in the flash report according to the final PMI data for the month. At just 50.2, a 7-month low, the key composite output index was revised down an unusually large 1.1 points versus ...Read More

PMI’s, Saudi pricing, Redbook, ISM, Construction Spending

Saudi Arabia to Cut Oil Premium to Asia Buyers for Oct.: Survey By Serene Cheong and Sharon Cho (Bloomberg) — World’s biggest crude exporter may reduce premium by 20c/bbl for Oct. sales of Arab Light grade to Asia, accord. to median est. in Bloomberg survey of 7 refiners and traders. Oct. Arab ...Read More

Chemical Activity Barometer, Durable Goods Orders, Mtg Purchase apps, Oil Inventory

Sagging along with industrial production: Better than expected which is nice, but nothing to get excited about. Durable goods tend to chug along at 3 or 4% pretty much regardless of what else happens. But this time they’ve been disrupted to the downside by the oil capex collapse. And note the large ...Read More

Oil and Gas

With prices down, drilling is down over 50%, and production is beginning to fall as well. At the same time, gasoline consumption and miles driven are both up. Therefore, some of the money saved due to lower prices is being spent to buy more gasoline, which, with domestic production falling, means more ...Read More