Into The Vortex – Natural Gas Draws Larger Than Expected -96Bcf from Storage

EIA reported natural gas storage in the U.S. last week came in more than expected at -96Bcf in storage with consensus a draw of -84Bcf. For perspective in the same week last year stocks were -79Bcf, with a five-year (2017-2021) average -143Bcf. After the report U.S. Benchmark Henry Hub March futures contract lurched higher over $1.90 after it settled at $1.60 per million British thermal units, down nearly 7.5% last Friday to post a weekly loss of 0.4%. The move … Continue reading “Into The Vortex – Natural Gas Draws Larger Than Expected -96Bcf from Storage”

Greed is Good? All Time Highs, AI and NVidia Mania – Traders Market Weekly

Feb 25-March 2, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial We are reminded of Gordon Gekko and his phrase Greed is Good in these manic FOMO times. The obsessions du jour that gripped the world this week were NVidia earnings and Taylor Swift, too … Continue reading “Greed is Good? All Time Highs, AI and NVidia Mania – Traders Market Weekly”

EIA Reports U.S. Natural Gas Stocks Fell 60Bcf Last Week

EIA reported natural gas storage in the U.S. last week came in less expected at -60Bcf in storage with consensus a draw of -65Bcf. For perspective in the same week last year stocks were -75Bcf, with a five-year (2017-2021) average -168Bcf. The global natural gas price selloff got some this week reprieve after hitting the lowest level since June 2020 last week. Catalysts included paper covering and the Chesapeake announcing production cuts and Freeport Train one began to flow again. … Continue reading “EIA Reports U.S. Natural Gas Stocks Fell 60Bcf Last Week”

AI Swinging for The Fences – Traders Market Weekly

Feb 18-24, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial Hallmarks of previous manias were in abundance this week, from the shrugging off violent selloffs on Tuesday in bonds and stocks after a hot CPI to ramped stocks like SMCI, NVDA and ARM to name … Continue reading “AI Swinging for The Fences – Traders Market Weekly”

Natural Gas Price Hits 2020 Low After EIA Reports Smaller -49Bcf Draw

Natural gas prices continued to sell off after a smaller than expected storage draw. EIA reported natural gas storage in the U.S. last week came in less expected at -49Bcf in storage with consensus a draw of -68Bcf. For perspective in the same week last year stocks were -117Bcf, with a five-year (2017-2021) average -149Bcf. Henry Hub futures were down another 15% from falling 10.59% last week, after falling 4.4% the prior week. Headwinds include Weather forecasts, LNG exports, Freeport … Continue reading “Natural Gas Price Hits 2020 Low After EIA Reports Smaller -49Bcf Draw”

Occidental Petroleum Pumps in Strong Earnings Beat, Raises Dividend by 22%

Houston based Occidental Petroleum on Wednesday reported better than expected fourth-quarter earnings, its best quarterly output in three years as it cut spending. Occidental reported adjusted earnings of 74 cents per share for the quarter ended Dec. 31, ahead of analysts’ estimates of 71 cents per share, according to LSEG data. The report follows better than expected earnings from Exxon Mobil and Chevron earlier this month. Like those majors Occidental increased its quarterly dividend payments. OXY raised their payout by … Continue reading “Occidental Petroleum Pumps in Strong Earnings Beat, Raises Dividend by 22%”

China and America, a Tale of Two Markets – Traders Market Weekly

Feb 11-17, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial While stock markets in America, Australia, France and Germany have all tagged record highs in this thrust higher a huge point of difference is while U.S. equities are in the throes of a major speculative … Continue reading “China and America, a Tale of Two Markets – Traders Market Weekly”

Into the Vortex – EIA Reports U.S. Natural Gas Stocks Fell 75Bcf Last Week

EIA reported natural gas storage in the U.S. last week a near expected -75Bcf in storage last week with the consensus was for a draw of -76Bcf. For perspective in the same week last year stocks were -208Bcf, with a five-year (2017-2021) average -193Bcf. Natural gas prices continue their fall, HH prompt sans $2.00. They fell again last week, Henry Hub futures for March delivery settled at $2.08 mbtu, up 1.4% on Friday but settled 4.4% lower for the week. … Continue reading “Into the Vortex – EIA Reports U.S. Natural Gas Stocks Fell 75Bcf Last Week”

The Dislocation of War and Markets – Traders Market Weekly

Feb 6-12, 2024 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Editorial This week brought a powerful reminder how disconnected financial markets can be, particularly those in the US are from factors that either don’t directly affect them or unrelated to stock prices. The world was at … Continue reading “The Dislocation of War and Markets – Traders Market Weekly”

Chevron Revenue Increases from PDC Energy, Raises Dividend 8%

Chevron, the second-largest U.S. oil company after Exxon, on Friday reported stronger-than-expected third quarter earnings. CVX posted total adjusted earnings of $2.3 billion, or $3.45 a share beating analysts looking for a profit of $3.19 a share. Chevron announced record annual production, enabled by the acquisition of Colorado producer PDC Energy and raised the quarterly dividend by 8% to $1.63 a share bringing the company’s dividend yield to 4.3%, ahead of Exxon’s 3.7%. Chevron spent a record $26 billion on … Continue reading “Chevron Revenue Increases from PDC Energy, Raises Dividend 8%”