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Comparative Inventory & Oil Storage Report: February 9, 2023 (2023-6)
There is an aggressive ~$11.00 premium included in WTI pricing despite generally bearish fundamentals.
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Art Berman Newsletter: February 2023 (2023-2)
It is tempting to assume that inadequate investment will lead to much higher oil prices. But what if demand follows supply lower as it did during the last five oil-price shocks from 1974 to 2020?
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Comparative Inventory & Gas Storage Report: February 2, 2023 (2023-5)
Markets continue to discount gas as the price fell below $2.50 for the first time since early April 2021. Forecasts suggest normal to warmer-than-normal temperatures through the middle of February.
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Comparative Inventory & Oil Storage Report: February 1, 2023 (2023-5)
There are no bullish fundamentals for oil. WTI is in contango. Inventories are approaching the 5-yr avg. Futures are below the 100- & the 50-day avgs. C.I. indicates WTI is at least $7.50 over-priced.
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Comparative Inventory & Gas Storage Report: January 26, 2023 (2023-4)
Forecasts suggest a cooler early February so I expect prices to increase somewhat. I suspect that price will remain discounted by at least 10% below the implied clearing price of $3.80.
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Comparative Inventory & Oil Storage Report: January 25, 2023 (2023-4)
Oil-price discovery excursions often last for weeks or even months before exuberant expectations of counter-parties intersect with market fundamentals.
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Comparative Inventory & Gas Storage Report: January 19, 2023 (2023-3)
U.S. LNG exports increased 600 mmcf/d to 12.3 bcf/d and Mexico exports rose 500 mmcf/d to 5.4 bcf/d.
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Comparative Inventory & Oil Storage Report: January 19, 2023 (2023-3)
Oil-price volatility moved from a weekly average of 37% to 25% more than the the pre-pandemic average.
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They’re Not Making Oil Like They Used To: Stealth Peak Oil?
The sooner we stop expecting a miracle of technology or a quick transition to renewable energy, the better we will be able to cope with a more difficult energy future.
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Comparative Inventory & Gas Storage Report: January 12, 2023 (2023-2)
LNG exports have returned to levels before the Freeport LNG outage so analysts can’t blame that for more-than-adequate supply.
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Comparative Inventory & Oil Storage Report: January 11, 2023 (2023-2)
This week’s increase in oil comparative inventory was the among largest of the last year. The SPR release of 0.8 mmb was the smallest
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Comparative Inventory & Gas Storage Report: December 29, 2022 (2022-47)
Markets are signaling natural gas producers to slow their drilling because supply is more than adequate.
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