Global Macro Perspectives
(For The Week Ending October 22, 2010) Number of crude oil drilling rigs remained unchanged; Number of natural gas drilling rigs fell for 1. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
(For The Week Ending October 22, 2010) Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index rose 2.9%. I can repeat last week’s comment: “Even though the strike in France keeps vessels employed (at anchor) – the market is still oversupplied. Rates are bellow operating costs.” Bloomberg story: Supertankers Face Two-Year Losing Streak as […]
(For The Week Ending October 15, 2010) Crude oil stocks rose 0.7 million barrels; Gasoline stocks were up 1.2 million barrels; Distillate stocks were down 2.2 million barrels; Propane/propylene stocks fell 0.7 million barrels; Other oils stocks fell 0.9 million barrels; Total crude oil and petroleum stocks were 2.0 million barrels lower than the week […]
(For The Week Ending October 15, 2010) Number of crude oil drilling rigs rose for 5; Number of natural gas drilling rigs fell for 5. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
(For The Week Ending October 8, 2010) Crude oil stocks fell 0.4 million barrels for the week ending October 8, 2010; Gasoline stocks fell 1.8 million barrels; Distillate stocks were down 0.3 million barrels; Propane/propylene stocks rose 0.3 million barrels; Other oils stocks fell 2.1 million barrels; Total crude oil and petroleum stocks were 4.5 […]
(For The Week Ending October 8, 2010) Baltic Dirty Tanker Index rose 10.7%; Baltic Clean Tanker Index fell 0.3%. Probably a short term mismatch (strike in France) in supply and demand pushed dirty rates up. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending October 1, 2010) Crude oil stocks rose 3.1 million barrels for the week ending October 1, 2010; Gasoline stocks fell 2.6 million barrels; Distillate stocks were down 1.1 million barrels; Propane/propylene stocks rose 0.6 million barrels; Other oils stocks were up 1.0 million barrels; Total crude oil and petroleum stocks were […]
This months strategy is a little bit late because your favorite blogger is feeling (a bit) nihilistic in the last weeks. We have had a nice run in September in almost all asset classes. Reasons: recent economic data is not deteriorating as fast as feared and the central bankers determination to extend monetary stimulus is stronger […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 4.6%. Supply still overweighting demand. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending September 24, 2010) Belisarius had a real bad time compiling this report today, as he is struggling to find purpose in hard work on this piece of analysis and apparent zero usefulness in trading. In short refinery utilization collapsed so we had a small gasoline draw, and the price of crude oil skyrocketed on that… Chart 1. […]
Baltic Dirty Tanker Index rose 1.0%; Baltic Clean Tanker Index fell 2.2%. Dead in the water. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
For The Week Ending September 17, 2010) Crude oil stocks rose 1.0 million barrels for the week ending September 17, 2010; Gasoline stocks increased 1.6 million barrels; Distillate stocks were up 0.3 million barrels; Propane/propylene stocks remained unchanged; Other oils stocks were up 0.7 million barrels; Total crude oil and petroleum stocks were 2.9 million […]
Baltic Dirty Tanker Index fell 1.6%; Baltic Clean Tanker Index rose 2.1%. No improvements in supply/demand balance. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending September 10, 2010) Crude oil stocks fell 1.9 million barrels for the week ending September 10, 2010; Gasoline stocks decreased 0.7 million barrels; Distillate stocks fell 0.3 million barrels; Propane/propylene stocks fell 0.2 million barrels; Other oils stocks were up 0.8 million barrels; Total crude oil and petroleum stocks were 2.9 […]
Baltic Dirty Tanker Index fell 1.6%; Baltic Clean Tanker Index fell 2.7%. Too few cargoes and too many ships. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes