US shale oil production crossed 1 mil b/d in 2011.
Since then, Saudi's market share has been on slow but steady decline, punctuated only briefly by steep price drops in 2015-6 and 2020. How can Saudi regain market share? Either they maintain a $60+ price and see their market share continue to erode, or they increase production to reclaim market share, and see prices plummet. Either way, it's lower revenue in the short term. Should they pump more to decrease prices and regain market shares? Taking the market to <$40 again will be painful for them in the near-term, but they have the financial wherewithal to survive. Source: John Arnold on X
S&P 500 futures positioning is very extended. Nearing record long levels, according to Citi.
Source: Barchart, Bloomberg
GS: Chart of the Week
Global MAP (economic) Surprise Index Has Fallen Sharply, Driven by Weak Euro Area PMIs and a Plummet in US New Home Sales Source: Mike Zaccardi, CFA, CMT @MikeZaccardi, GS
SOL ETF first approval deadline is 3 days after Gary Gensler leaves office and 3 days after Trump takes over
Source: gum on X, Bloomberg
BREAKING: Alex Mashinsky of Celsius Network pleads guilty to:
1. Inducing investor to sell their Bitcoin to Celsius with false statements about its EARN program. 2. Manipulating the price of CEL Sentencing is Tuesday, April 8, 2025 at 11:30 with a max sentence of 30 years. Source: Aaron Bennett @AaronDBennett on X
Potential short squeeze ahead on Ether ?
Source: zerohedge
ALERT: Buffett’s cash allocation is at 30% of Berkshire Hathaway’s total assets Such an elevated cash position has NEVER been seen
Source: Bravos Research
Remember when the Bitcoin ETF first came out in January?
The talk was we would get an initial rush, and then it would level off. Exactly the opposite is happening. Flows are massively accelerating. Source: @EricBalchunas, Fred Krueger @dotkrueger
