7 Aug 2023
With the recent surge in oil demand, the US government is now left with a petroleum reserve sufficient for only 16 days
Source: Tavi Costa, Bloomberg
7 Aug 2023
Crude Oil had its 6th consecutive green week, the longest weekly winning streak since February 2022
Source: Barchart
4 Aug 2023
As highlighted by Tavi Costa, the implied demand for oil just surged to all-time highs
It was the largest weekly increase in 26 years. Meanwhile, US oil production remains ~7% below pre-pandemic levels with total operating rigs starting to contract for the first time in 3 years. Source: Bloomberg, Crescat Capital
31 Jul 2023
The supply story in oil is getting worse
Source: MenthorQ
25 Jul 2023
C(RUDE) AWAKENING...
Crude oil is taking out the 200 day moving average. We haven't seen oil close above the 200 day moving average since Q3 2022.... Source: TME, Refinitiv