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Active drilling rigs in the U.S. added 9 to 767, the highest count since the start of pandemic shutdowns in March 2020 and 57% above the level at the same time last year, Baker Hughes reports in its latest weekly survey . Drilling rigs targeting crude oil rose by 6 to 605, while...
Inventory just keeps falling. US Crude Production remains on a very slow recovery with a headwind from SPR releases. Crude working inventory continues a drawdown which one can interpret as an industry continuing to improve its use of working capital. Inventory just keeps...
EIA reported a very bullish oil storage report yesterday. U.S. crude with SPR fell below ~900 million bbls last week, and on a YTD basis, U.S. crude with SPR is down ~105 million bbls. Gasoline demand rebounded strongly last week, with the core 3 showing some signs of recovery. ...
Since the Russian invasion of Ukraine, there have been increasing questions about the ability of Canada, the world's fourth largest oil producer - and specifically the oil sands - to contribute more oil to the United States and the global market. Market instabilities of the past - bot...
Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes tradi...
Since the beginning of Russia’s planned Nord Stream 1 maintenance period (from July 11 to 22), European gas storage stock change has dropped below historical averages. Today, Europe is adding significantly less gas to its storage than it has at this time over the past five year...
Energy Information Administration Petroleum Inventories Crude -4.5M barrels vs. -1.037M consensus, -0.446M last week. EIA Gasoline - 3.3M vs. -0.857M consensus, +3.498M last week. EIA Distillates - 0.8M vs. +0.500M consensus, -1.295M last week. Fut...
In all fairness to the Atlanta Fed, some of last week’s statistical releases indicate an economic slowdown, but at a very slow pace, nothing like the rapid contraction that accompanied serious contractions in 2008-9 or 2020. Russia’s Gazprom last week notified major cust...
The United States Petroleum Reserve, aka the "SPR," holds hundreds of millions of barrels of crude oil in case of an emergency. Over 129 million barrels of oil have been released from the SPR over the past 12 months. 3 critical facts investors must know about the SPR. Ev...
Energy ( NYSEARCA: XLE ) easily leads Monday's S&P sector standings, +3.1% as U.S. oil futures rise to start the week while remaining below $100/bbl, supported by a slightly weaker U.S. dollar and improving equity markets. September WTI crude ( CL1:COM ) ...
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2024-04-28 09:10:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
Source: Streetwise Reports 04/19/2024 Are we at the start of a commodities supercycle? We sat down with McAlinden Research to see what they had to ...
2024-04-18 14:36:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...