By Irina Slav The United States has been on the opposite side of the OPEC oil cartel for decades in a great battle between the free market and supervised production levels. All that may be about to change, with the free market in the United States giving way to unprecedented action that could direct production levels … Read more
By Alex Kimani U.S. shale oil producers have so far held up admirably, hanging on for dear life amidst the biggest oil demand collapse in history. American producers continued to pump at record highs in March, even after dozens of drillers laid out blueprints to limit production. But with U.S. storage about to hit tank tops in … Read more
by TheOneAboveNone2 This is crazy, as of May 1st the USO Fund ETF is now branching out and putting funds into Brent Crude WTI Crude US Diesel (Low Sulfur) RBOB Gasoline All spread across multiple months in 2020 AND 2021 Possibly Dubai, Singapore, other international crudes This thing is so far off kilter, check it out: https://www.sec.gov/Archives/edgar/data/1327068/000117120020000330/0001171200-20-000330-index.htm Accordingly, commencing … Read more
by ez2remembercpl TL,DR: the bull case around earnings remains strong in the short-term (30 days) which is all I care about. Reading a lot of oil tanker trader feeds (OOTT). Info from the ones with actual jobs in the industry… BULL case: the absolute crazy spot rates for tankers ($200K+) are currently gone, but tanker storage … Read more
by bingo_bango_zongo The Nasdaq is basically flat year to date. All the FAANG stocks are near all time highs. Facebook, Netflix and Google all missed on EPS estimates. Apple is likely to be hit even worse (sales are down and stores are closed) which leaves Amazon as the only member of FAANG that is likely … Read more
by limes_huh Alright I’ve got some nitty gritty details on a shit ton of restaurants. I’m a doordash driver (this is what diamond hands gets you. I went from $157 to $7500 to $850). I’ve got some DD on a few restaurants, some of this info might be super useful, some might not. Chipotle – … Read more
by Arcas0 Everything’s fine. Maybe you got furloughed, that’s ok. You’re probably making more on unemployment now. Everything’s fine. Now you have time to learn how to bake, maybe finally sleep in and play some video games. Maybe start looking for a better job. You were thinking about quitting anyway. It’s basically summer break with … Read more
by Martin Armstrong China actually reported to the World Health Organization on New Year’s Eve that it was facing a novel coronavirus. It was on January 3rd when U.S. health officials offered assistance to China. They renewed the offer two days later, according to the president’s team. Nancy Pelosi, while touring Chinatown in San Francisco … Read more
A new Insider poll found 23% of Americans who owe a rent or a mortgage payment on Friday aren’t sure they’ll be able to pay it. While 77% of respondents said they were set to make this month’s payment, 12% said they don’t have the money and 10% said they aren’t sure if they’ll have … Read more
by jf286381 Banks are being conservative which might suggest that all of this is “priced in”. They’re borrowing like crazy with the Fed rate at 0.25% and they’re using that capital to pay down old, higher interest liabilities i.e. collectively, they’re handing it back to the Fed. None of that looks good or sounds good … Read more