Global Macro Perspectives
Crude oil stocks rose 4.0 million barrels for week ending 26 February; Gasoline stocks increased for 0.8 million barrels; Distillate stocks fell 0.8 million barrels; Propane/propylene stocks decreased 0.5 million barrels; Other oils fell 2.9 million barrels; Total crude oil and petroleum stocks fell 0.4 million barrels. Refinery utilization rose from 81.2% to 81.9%. Crude […]
Equities In the macro arena we have leading indicators rolling over, and a stream of worse-than-expected data pieces on U.S. housing, U.S. employment, U.S. durable goods ordered and large move lower by consumer confidence. Seems that the markets do not appreciate the data. Things that move the markets are only FED policy on rates, dollar […]
Baltic Dirty Tanker Index fell 0.2% last week while Baltic Clean Tanker Index fell 0.5%. Nothing special happening. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Crude oil stocks rose 3.0 million barrels for week ending 19 February; Gasoline stocks decreased for 0.9 million barrels; Distillate stocks fell 0.6 million barrels; Propane/propylene stocks decreased 2.3 million barrels; Other oils fell 1.1 million barrels; Total crude oil and petroleum stocks rose 1.4 million barrels. Refinery utilization rose from 79.8% to 81.2%. Crude […]
Baltic Dirty Tanker Index fell 2.4% last week while Baltic Clean Tanker Index fell 3.8%. Similar as in dry bulk everybody waits for Chinese buyers/charterers to return to markets. With winter season being nearly over we will probably have a seasonal weakness here till at least April when driving demand kicks in. Chart 1. Baltic […]
Crude oil stocks rose 3.1 million barrels for week ending 12 February; Gasoline stocks increased for 1.6 million barrels; Distillate stocks fell 2.9 million barrels; Propane/propylene stocks decreased 2.9 million barrels; Other oils were flat; Total crude oil and petroleum stocks fell 2.4 million barrels. Refinery utilization rose from 79.1% to 79.8%. Crude oil and […]
Crude oil stocks rose 2.4 million barrels for week ending 5 February; Gasoline stocks increased for 2.3 million barrels; Distillate stocks fell 0.4 million barrels; Propane/propylene stocks decreased 1.3 million barrels; Other oils were down 1 million barrel; Total crude oil and petroleum stocks rose 1.9 million barrels. Refinery utilization rose from the post Lehman […]
One of the most important piece of data being reported this week is Chinese money supply. When giving a little thought to the meter, it gives a negative impulse to the markets turned both ways. If the growth continues we have asset bubbles forming and inflation threat; If growth slows down we have a threat […]
Crude oil stocks rose 2.3 million barrels for week ending 29 January; Gasoline stocks increased for 2 million barrels; Distillate stocks fell 0.9 million barrels; Propane/propylene stocks decreased 3 million barrels; Other oils were down 1.9 million barrels; Total crude oil and petroleum stocks rose 0.8 million barrels. Refinery utilization fell to a post Lehman […]
Equities We have seen a meaningful correction in equities in recent couple of weeks, we have a market that fails to react to presumably good news, we have low levels of cash in equity mutual funds and still high number of bulls; high beta stocks suffered massively; For me this is a setup for reversal, […]
Crude oil stocks fell 3.9 million barrels for week ending 22 January; Gasoline stocks increased for 2 million barrels; Distillate stocks rose 0.4 million barrels; Propane/propylene stocks fell 4.3 million barrels; Other oils were down 0.2 million barrels; Total crude oil and petroleum stocks fell 5.7 million barrels. Refinery utilization remained flat at 78.5%. Crude […]
Crude oil stocks fell 0.5 million barrels for week ending 15 January; Gasoline stocks increased for 4 million barrels; Distillate stocks decreased 3.3 million barrels; Propane/propylene stocks fell 4.8 million barrels; Other oils were down 0.2 million barrels; Total crude oil and petroleum stocks fell 1.6 million barrels. Refinery utilization surprised to the downside reaching […]
Crude oil stocks rose 3.3 million barrels for week ending 8 January; Gasoline stocks increased for 3.9 million barrels; Distillate stocks gained 1.4 million barrels; Propane/propylene stocks fell 3.5 million barrels; Other oils were down 3.2 million barrels; Total crude oil and petroleum stocks increased 3.5 million barrels. Refinery utilization remained surprised to the upside […]
Crude oil stocks rose 1.3 million barrels for week ending 1 January; Gasoline stocks grew 3.7 million barrels; Distillate stocks fell 0.2 million barrels; Propane/propylene stocks fell 3.0 million barrels; Other oils were down 2 million barrels; Total crude oil and petroleum stocks decreased 1.8 million barrels. Refinery utilization remained mostly unchanged at 79.9 %. […]
Equities Equity performance was impressive in recent month, down to the last trading day of the year. Thursday trading showed that the investors are not so confident that the upside will continue, revealing, maybe a moment of truth. Everybody is long because of fear not to miss further gains, but scared of a potential slip. […]