US NatGas Front-Month Jumps 13%, 12-Month Spread Explodes
U.S. natural gas 12-month spread widened $0.17 (378%) on contract roll August contract rose $0.27 (9%) week ending May 29 Front-month price increased $0.38 (13%) from $2.91 to $3.29 #energy #NaturalGas #shale #fintwit #oilandgas #Commodities #ONGT #natgas #LNG https://t.co/14ZQ5fxDmV
Chevron Refuses to Pay Toll for Hormuz Shipments
Chevron will not pay a toll to move shipments through the Strait of Hormuz says Chairman and CEO Mike Wirth
Oil Producers Warn Slow Recovery, Price Pressure Ahead
The people who actually move & produce oil are telling a very different story than the market Chevron sees price pressure intensifying through June and July. ADNOC says 80% flow restoration takes 4+ months after a deal, with full recovery potentially...
MOU Is Just an Agenda, Not a Deal
A Memorandum of Understanding is NOT a deal It's an agenda Iran & the U.S. have apparently agreed to DISCUSS reopening Hormuz & Iran's nuclear program There's a world of difference between an MOU & a deal #Iran #Hormuz #OilMarkets #Geopolitics #EnergySecurity #MiddleEast @Turne12860Aidan...
WTI Prices Carry $25 Risk Premium Amid Low Inventories
Comparative inventory decreased 3 mmb to 22 mmb less than the 5-year average for week ending May 22 WTI price includes a $25 risk premium: inventories say $80, markets say $105 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/ibkHCRmP6O
Kuwait's Air Defenses Counter Attacks; Peace Deal Unrealistic
Kuwait says its air defenses are engaging missile & drone attacks The peace deal is a fantasy #Iran #Kuwait #Hormuz #Oil #EnergyCrisis #Geopolitics
Hormuz Reopening Won’t Ease Oil Crisis Before November
There is no “successful reopening” of Hormuz that can be cleanly modeled, @Peter_Strachan. Even in the most wildly optimistic scenario, the supply crisis likely doesn’t bottom until November. And that’s just restoring flows. Now factor in production damage, insurance paralysis, refinery disruptions, inventories,...
US NatGas Futures Slip on Oversupply and Weak Demand
U.S. natural gas futures price fell $0.05 from $2.96 to $2.91 Domestic over-supply, a storage build & weaker weather-based demand were key factors for the week ending May 22 #energy #NaturalGas #shale #fintwit #oilandgas #Commodities #ONGT #natgas #LNG https://t.co/UV6T0y6Cb2
Markets Drop WTI 8% Amid Trump's Iran Deal Hype
Bi-polar markets now want to believe Trump's BS that an Iran deal is near WTI futures price fell $8.82 (8%) from $105.42 to $96.60 week ending May 22 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/rqluTVxiUT
Diesel Demand Collapse Signals Looming Economic Slowdown
The most important chart of the week: diesel demand is collapsing. The economy will follow Diesel is the circulatory system of the real economy—trucking, mining, farming, shipping and industry. U.S. diesel demand swung from 257 mmb/d above the 5-year average to 228 mmb/d...
World Economy Faces Daily 10% Oil Loss Threat
Iran's oil storage capacity is NOISE @TankerTrackers This is not about whether Iran “runs out of tanks.” The SIGNAL is how long the world economy can survive losing more than 10% of its oil blood supply each day. #Oil #Iran #Hormuz #EnergyCrisis...
Rising Freight Inflation Signals Broader Price Hikes and Slowdown
US freight inflation is exploding. The LMI transportation prices index just hit 95 — near the highest ever recorded. Freight costs are the hemoglobin of the economy. When transport inflation surges, broader inflation follows. Then the economy slows. #Inflation #Freight #Oil...
Risk-On Surge Widens WTI Spreads, Prices Jump
Markets have crossed the Rubicon of Risk-On WTI 12-month spread widened $7.36 (36%) for the week ending May 15 6-month spread widened $5.35 (37%) & price rose $10 (10%) from $95.42 to $105.42 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket
Iraq’s Hormuz Exports Plunge 90%, Debunking ‘Normal’ Market Claim
Iraq exported just ~300 kb/d through Hormuz in April versus ~3.43 mmb/d before the Iran war. That’s only about a 90% collapse in exports. Time for the “oil markets are normalizing” party. 🎉 #Oil #Hormuz #Iraq #EnergyCrisis #Geopolitics https://t.co/jW6hAEiFh4 https://t.co/ngX33nAIPG
U.S. SPR Plummets, Half Exported Amid Massive Drawdown
U.S. SPR headed toward historic lows Half is being exported to drain America first EIA projects 170 mmb withdrawal of crude oil from March to October #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/l3Pt1VDxqG