JJE News and Press, iPathA Series B Bloomberg Energy Subindex Total Return ETN From 07/20/22

Two opposing forces appear to be dominating the market currently, with investors polarized between recession fears and bargain hunting following this year’s large equity selloff. Investors priced in most central bank tightening and seem more confident with the inflation outlook...

We think the oil/energy price spike from Putin’s war may be plateauing. When oil prices rise, the bonds that are issued by these energy companies get a windfall since their revenue coverage is higher and therefore the coverage of the bonds improves. We are underweight the f...

The Fed will be raising interest rates again soon, and of course, the question is whether the central bank will raise the Fed Funds rate by 0.75 or 1.00 percent. As if the issues in China weren’t enough, the festering Ukraine war-related energy-related issues in Europe could be...

After one of the sharpest YTD surges on record, US consumers have seen a bit of relief at the pump over the last month as gasoline prices, as tracked by AAA, have seen a sharp pullback. While the moves this year have been much more extreme than normal, average gasoline prices are foll...

The OPEC Monthly Oil Market Report for July 2022 was published recently. OPEC output was revised lower in April 2022 by 6 kb/d and May 2022 output was revised down by 26 kb/d compared to last month’s MOMR. World liquids supply increased to 99.8 Mb/d in June 2022, 9.6 Mb/d h...

The energy market is a tug-of-war between fundamentals in the energy industry which is pretty tight. The energy sector has been driving a lot of performance in the S&P/TSX Index since the recovery from the Covid-19 pandemic. In the short term, I do expect the integrated compan...

As prices rise, consumers are put under extreme pressure to keep their normal standard of living. As inflationary pressures continue, consumers make necessary sacrifices to manage their budgets – often going into debt in the process. Eventually, this cycle breaks, and infla...

Despite the biggest decline ever in the SPR, total US oil inventories (outside of the government’s emergency SPR) have barely budged off their lows. When we look at the 10-year seasonal pattern for total US oil inventories, we are well below the 10-year extreme low and, seasona...

Demand destruction for gasoline has now turned into a crescendo during peak driving season, including the 4th of July holiday weekend. In the week through July 8, gasoline consumption plunged by 9.7% to 8.73 million barrels per day, on a four-week moving average, according to EIA data...

In its most simple terms, inflation is rising prices due to aggregate demand outstripping supply. Despite disagreements on the current causes of inflation, the Federal Reserve has made it clear that their goal is to reduce the demand imbalance through short-end rate hikes and quantita...