JJE News and Press, iPathA Series B Bloomberg Energy Subindex Total Return ETN From 03/23/23

2023-03-23 17:57:42 ET Summary Global oil inventories are finally starting to turn the corner as we approach Q2. US oil demand is better than meets the eye due to the low heating demand component. Gasoline and jet fuel are on pace to be above 2022 by summer. We see Q2 bala...

2023-03-22 08:00:00 ET Summary Concerns for the global economy and risk-off sentiment related to bank troubles sent oil prices and energy stocks lower last week. In a tough start to the year for energy, MLPs and midstream stand out for their resilience, supported by attractive div...

2023-03-20 05:20:00 ET Summary OPEC crude output was revised lower in January 2023 by 69 kb/d compared to last month’s report and December 2022 OPEC crude output was revised lower by 7 kb/d. Assuming the ratio of World C+C to total liquids has remained close to the level of...

2023-03-19 09:08:04 ET Summary USO has fallen by around 17% from its March peak as fears around a collapse of several FDIC-insured banks become visceral. This negative sentiment, which forms a material headwind for oil prices, will likely dominate the financial markets far into sp...

2023-03-17 15:43:00 ET Summary Recent developments in the banking sector have spilled over into broader financial markets, and the oil market has been unable to escape this pressure. Oil fundamentals have not been strong enough to support prices. We have cut our forecasts, but...

2023-03-15 06:30:00 ET Summary The supply and demand dynamics are bearish for now. Should the shorter-dated spreads diverge from the spot price, it tends to provide a decent signal as to the forthcoming price action. Price action continues to look interesting for the oil price...

2023-03-15 03:41:00 ET Summary The CPI came in at 0.37% for the month of February. Falling energy prices made the CPI look cooler than it actually was. Shelter is still far too high to get the CPI back down to anything remotely close to 2%. The Fed and Treasury averted a c...

2023-03-14 04:53:00 ET Summary Last Friday, the Labor Department revised both their December and January payroll reports by a total of 34,000 jobs, from 260,000 down to 239,000 in December, and from 517,000 down to 504,000 in January. So far, the Fed has been remarkably quiet abou...

2023-03-13 04:07:00 ET Summary November Non-OPEC oil production increased by 502 kb/d to 51,099 kb/d. U.S. December production decreased by 276 kb/d to 12,101 kb/d. World without the US oil output increased by 135 kb/d to 69,547 kb/d in November. For furt...

2023-03-09 07:41:00 ET Summary Commodities pulled back during February as U.S. interest rates rose and the U.S. dollar followed interest rates higher. Another relative year-to-date performance driver has been U.S. natural gas. The warmer than normal winter, especially in the North...