Global Macro Perspectives
Working gas in storage rose 76 Bcf from previous week. Some signs of increased power generation demand arised, interesting times, maybe a entry point developing. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
Belisarius is kind of tied up with his day job in the last few days, so my posting is not as timely as usual. Crude oil stocks and derivatives stocks were mostly unchanged for the week ending May 14. Refinery utilization fell from88.4% to 87.9%. Crude oil and petroleum product net imports were fell to […]
Initial jobless claims were reported at 471.000. The consensus was at 440.000, last week reading was at 444.000. An ugly looking number. Chart 1. U.S. Initial Jobless Claims
Is this the big one? Although your favorite author was skeptical on the recent bull run, he definitely didn’t things will unwind so fast. Where to now? It feels further south. The main issue is that a EU “nuclear” option, did not reassure the markets. And there is no other better fixes… Only possible good […]