Art Berman
Europe survived the winter of 2022-2023 by obtaining enough fossil energy to make up for lost Russian supply. That’s not a criticism of renewable energy. It’s a fact that we must acknowledge.
Moody’s Analytics modeled some scenarios which suggest that a U.S. GDP decline of as much as 5% is possible over the next two to three years
Price-volume data continues to suggest that natural gas is about +10% over-priced for current inventory levels.
WTI price has fallen from the 20-day average to the lower limit of the Bollinger bands since last week.
High LNG exports are affecting natural gas prices more than inventories for now.
WTI Price has fallen from the upper limit of the Bollinger bands to the 20-day average since last week.
Forecasts don’t offer much hope that the present pattern of low gas pricing will change in April.
WTI price has moved above the upper limit of the Bollinger bands so a correction is more likely than not.
The OPEC production cut was a call to action for analysts to disgorge a slew of shopworn memes rather than provide any useful insight or critical analysis that might help investors.
Natural gas is correctly priced in the low-$2.00 range based on the comparative inventory yield curve.
The real global macro for low probability-high impact events seems to be greater than we previously thought possible.
Oil price increase has stalled at the upper limit of the Bollinger bands and was unaffected by the bullish storage report this week.