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EIA #s & Cushing
10:32 News Bot: US DOE U.S. Crude Oil Inventories (Oct 30) W/W 2847K vs. Exp. 2500K (Prev. 3376K), crude output rose 0.527% to 9.160mln b/d
- US DoE Cushing OK Crude Inventory (Oct 30) W/W -212K (Prev. -785K).
- US DoE Gasoline Inventories (Oct 30) W/W -3300K vs. Exp. -1250K (Prev. -1137K).
- US DoE Distillate Inventory (Oct 30) W/W -1300K vs. Exp. -2000K (Prev. -2951K).
- US DoE Refinery Utilisation (Oct 30) W/W 1.10% vs. Exp. 0.30% (Prev. 1.20%).
(U.S. Department of Energy)
10:32 bluehorseshoe: Look at the squeeze get short now
US crude exports fell Sept to 12.3m bbl per Census Bureau
9:32qm ET
ETSY 52 wk lo, WCG lows, BA high +0.60 GPRN -30% em
*Downward Pressure on Demand for Opec Crude Seen Until 2019 Unless Non-Opec Supply Falls Faster Than Expected -Reuters
9:50 am ET
Petrobras oil workers strike
RIO DE JANEIRO--A strike by Brazil's biggest oil workers union stopped a significant amount of oil and gas production at Petróleo Brasileiro SA , and that the company's alternate board chairman was stepping down just two months after his appointment.
Petrobras said that the strike affected 13% of the company's daily oil production and 14% of the company's daily natural gas production on Monday. The strike affected 273,000 barrels of oil production and 7.3 million cubic meters of natural gas production, the company said.
The Oil Workers Federation , or FUP, began the strike on Sunday to protest a series of asset sales by Petrobras after the union held more than three months of negotiations with the company. The FUP represents platform and refinery workers, among others.
The company said it is "taking the necessary measures" to maintain production, and said that "despite the effect on production of oil and gas in Brazil as a result of the strike, distribution is functioning within normal limits and there is no forecast of a market shortage."
Separately, Petrobras said Tuesday that its alternate board chairman, Clovis Torres Junior, was stepping down "for personal reasons," just two months after assuming the post. Mr. Torres Junior was appointed alternate chairman in September after the previous chairman, Murilo Ferreira , took a leave of absence.
Mr. Ferreira himself had only assumed the chairman post in April of this year during a major management shake-up in the wake of a massive corruption scandal. His leave of absence raised questions about possible boardroom turmoil, questions that are likely to resurface after Tuesday's announcement.
On top of all that, earlier this week a different board member was arrested during a protest by the striking workers and later released.
Deyvid Bacelar , the lone board member appointed by Petrobras employees, said he was arrested just before midnight on Monday outside a Petrobras refinery in northern Bahia state, and was told he was being held for "disrespecting authority." He said he was driven around for several hours by police before being released.
"It was surreal," Mr. Bacelar said in a brief telephone interview.
A state police representative in the town of São Francisco do Conde confirmed that Mr. Bacelar was arrested and later released.
Representatives from Petrobras didn't respond to a request for comment about Mr. Bacelar's arrest.
The small protest outside the Landulpho Alves refinery , Brazil's first national refinery, was part of the nationwide strike.
Petrobras plans to divest itself of more than $15 billion in assets this year and next, and as much as $58 billion by 2019, as part of wide-ranging cost cuts to deal with write-offs from a corruption scandal and a debt load of more than $130 billion , the largest in the energy industry.
The FUP said the cost cuts will lead to thousands of layoffs and have a negative effect on the already weak Brazilian economy, which depends heavily on Petrobras for jobs.
Write to Will Connors at william.connors@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-03-15 2041ET
Copyright (c) 2015 Dow Jones & Company, Inc.
2 am bits Libya down, Kuwait Oil Min bottom. Global view
08:24 News Bot: Libya oil output has decreased to below 400k bpd, after port halt, according to NOC
07:27 News Bot: Kuwait Oil Minister has said that oil prices may have hit a bottom level now
-------------------
This below could encourage US Fed & world CBs to keep boosting or at least to delay rate hikes until runaway conditions.
Global stocks extended a rally Wednesday, buoyed by higher oil prices and gains in resources shares.
Futures markets pointed to a 0.3% gain for the Dow Jones Industrial Average. Changes in futures aren't necessarily reflected in market moves after the opening bell.
The Stoxx Europe 600 rose 1.0% midmorning, shrugging off heavy declines in auto shares after Volkswagen AG announced its emissions-testing scandal had widened beyond what was previously disclosed.
Gains in Europe Wednesday were led by energy and basic resources companies, which have staged a sharp rally over the past several weeks. These companies took a battering in August and September after fears grew over a slowdown in China .
"Markets are maybe turning a bit more positive and we're seeing some sectors that have been suffering a lot" recovering, said Eric Verleyen , chief investment officer at Société Générale Private Banking, which oversees EUR117 billion in assets.
Mr. Verleyen said he believes fears over China were overdone and he decided to increase his allocation to stocks in September, especially in the eurozone and Japan where central banks should keep pumping cash into the system.
In Europe , shares in basic resources firms gained 2.6% Wednesday led by Glencore PLC , which was up more than 5%. The Swiss mining giant said Wednesday it made significant progress in reducing its net debt and reaffirmed that its commodities trading division is performing in line with expectations. Shares in Anglo American PLC were also up 4.7%.
Energy stocks were up nearly 2%.
But auto shares acted as a drag on broader indexes, falling 2.7%. The falls were led by Volkswagen AG and the group's financial holding, Porsche Automobil Holding SE , which were down 9.2% and 8.2% respectively.
Shares in other German auto makers Daimler AG and Bayerische Motoren Werke AG were both down around 3%, helping to drive Germany's DAX index into negative territory.
While Friday's October U.S. jobs report will be the week's data highlight, others readings on the U.S. economy were in focus Wednesday.
Private-sector employment gains continued in October, coming in just ahead of expectations. Employers added 182,000 jobs last month, Automatic Data Processing Inc. said, ahead of the 180,000 estimate.
Also, the U.S. trade deficit narrowed sharply in September due to a rebound in foreign countries' demand for American goods, the Commerce Department said. The trade gap shrank 15% from August to $40.81 billion , the smallest deficit since February.
Appearances by Federal Reserve officials later in the day may offer clues on the timing of the first rise in U.S. interest rates in almost a decade, including a testimony from Fed Chairwoman Janet Yellen before a U.S. House committee.
Central banks have been the main driver of financial markets in recent months. Global stocks fell sharply in August after China weakened its currency, sparking concerns over the severity of a slowdown in its economy.
Since then, central bank officials have boosted markets by either easing monetary policy or signaling they are ready to act. The People's Bank of China cut interest rates last month, while many investors now expect the European Central Bank to boost its monetary stimulus program in December.
Last month, the Fed signaled it was prepared to raise interest rates at its December meeting, pulling back market expectations that had shifted to a 2016 liftoff after the Fed decided against increasing rates in September.
"We think the U.S. economy is strong enough to absorb it," said Mr. Verleyen. "By raising rates, the confidence level of the U.S. entrepreneur could be higher. It could create more positive economic momentum."
Friday's jobs number, as well as revisions to previous reports, will be crucial when it comes to determining the Fed's next move, said Anthony O'Brien , co-head of European rates strategy at Morgan Stanley .
"By the time we get to December, the Fed will make it blatantly clear...that they are going or not going," he said, adding that he expects the Fed to raise rates in December.
Wednesday's market rally followed a strong close for Wall Street on Tuesday, where higher oil prices fueled gains in energy shares.
Brent crude edged up 0.4% to $50.79 a barrel Wednesday.
In Asia , out-of-date comments from China's central bank raised hopes that a trading link between Shenzhen and Hong Kong would launch by year-end and sent stocks sharply higher. The Shanghai Composite Index ended up 4.3%, while Hong Kong's Hang Seng Index climbed over 2%.
Japan's Nikkei 225 index rose 1.3% after reopening from a holiday.
In currencies, the euro was down 0.4% against the dollar at $1.0916 after European Central Bank President Mario Draghi on Tuesday defended the bank's readiness to do more to combat low inflation.
In commodities, gold was 0.3% higher at $1117.40 a troy ounce.
After U.S. markets close, social media giant Facebook Inc. will announce its third-quarter results.
Write to Christopher Whittall at christopher.whittall@wsj.com and Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
11-04-15 0850ET
Copyright (c) 2015 Dow Jones & Company, Inc.
NYT: Obama Won’t Yield to Company’s Bid to Delay Keystone Pipeline Decision
By JULIE HIRSCHFELD DAVIS NOV. 3, 2015
-----------------------
TransCanada, the company seeking to build the 1,179-mile pipeline, wants to delay the project. TransCanada Suspends Request for Permit to Build Keystone Pipeline NOV. 2, 2015
-----------------------
WASHINGTON — The White House on Tuesday said President Obama had no intention of bowing to a request from the company behind the Keystone XL oil pipeline to delay a decision on the project, saying he wanted to take action before his tenure ends.
The State Department is reviewing a request made on Monday by the company, TransCanada, to pause its yearslong evaluation of the proposed 1,179-mile pipeline, which has become part of a broader debate over Mr. Obama’s environmental agenda.
Josh Earnest, the White House press secretary, said on Tuesday that “there’s reason to suspect that there may be politics at play” in TransCanada’s request. He strongly suggested that the review, which has been widely expected to result in a rejection of the pipeline as soon as this month, remained on track.
“Given how long it’s taken, it seems unusual to me to suggest that somehow it should be paused yet again,” Mr. Earnest said about the evaluation at the State Department, which reviews proposed cross-border projects that require a presidential permit. The president, Mr. Earnest added, “would like to have this determination be completed before he leaves office.”
Environmental protection advocates say Mr. Obama is poised to reject the pipeline project in large part to make a bold statement about his commitment to curb climate change in advance of a United Nations summit meeting in Paris. He will seek to broker an accord at the December gathering, committing every nation to enacting new policies to counter global warming.
The bid by TransCanada appears to have only intensified pressure on Mr. Obama to weigh in on the project a month before the meeting in Paris, where he hopes to cement an important piece of his environmental legacy.
Critics of the pipeline project denounced the request as an attempt to avert an expected rejection and push off a final decision until Mr. Obama has left office. They urged him to quickly kill the project once and for all.
“It’s really a headache they didn’t need going into Paris,” said Heather Zichal, a former senior climate adviser to Mr. Obama. “There’s a general sense among a lot of the groups that the president is trending toward killing this thing, and they expected a decision soon. This puts pressure back on the administration in a very real and meaningful way.”
The company’s request has reignited a fierce debate about the pipeline that had quieted somewhat in recent months. On one side are Republicans and oil industry executives who have championed the pipeline proposal as a boon for job creation and economic growth. On the other are environmental advocates who call the pipeline, which would carry 800,000 barrels a day of carbon-heavy petroleum from Canadian oil sands to the Gulf Coast, a dirty and dangerous project that would undermine Mr. Obama’s commitment to combating climate change.
TransCanada’s move also raised legal questions for the Obama administration. The nightmare possibility, Ms. Zichal said, is that Mr. Obama would reject the pipeline only to face a lawsuit from TransCanada, then lose in court and inadvertently hand the company license to move forward with the project.
But former administration officials familiar with the review process said that was exceedingly unlikely. Neither the executive order process nor State Department procedures for review contain any provisions for suspending the evaluation, they said.
It would be hard for TransCanada to make a viable legal claim in an American court if the State Department refused to delay the review and rejected the project, the former officials said, since so much of the process is left to the president’s discretion. The former officials spoke on the condition of anonymity so they would not be identified in commenting on confidential work they did for the government.
“TransCanada has the ability to withdraw its permit, but it really doesn’t have any authority to suspend the federal process,” said Anthony Swift, the director of the Canada Project at the Natural Resources Defense Council. “Rejecting the project at this point would not expose the government to any legal risk.”
Davis Sheremata, a TransCanada spokesman, declined to comment on legal issues surrounding the request, saying that doing so would be inappropriate while the State Department was reviewing it.
In a conference call on Tuesday to discuss the company’s third-quarter financial results, Russ Girling, the chief executive, said TransCanada remained “100 percent committed” to building the pipeline. He rejected the notion that seeking the delay was an effort to manipulate the political system or have the decision punted to a president who might be more sympathetic.
“We’ve worked very hard for seven years to try to keep our head down and work our way through every twist and turn and every additional request through the regulatory process,” Mr. Girling said. “There are things that we can control, there are things we can’t control, and obviously we’re focused on those that we can.”
Environmental activists who have been demonstrating, petitioning and lobbying the Obama administration for years to reject the pipeline said TransCanada’s move demonstrated their effectiveness in building opposition to the project.
“The people-powered opposition has really brought the climate issue and the issue of oil projects and oil infrastructure to the fore in a way it never was before,” said Scott Parkin, the senior campaigner on the climate team at the Rainforest Action Network. But Mr. Obama still has to follow through and kill the project, he added.
“We’re still dug in to get a rejection, and we’re still going to be pushing on this issue as hard as we can,” Mr. Parkin said.
Correction: November 3, 2015
An earlier version of this article misstated the name of an organization. It is the Natural Resources Defense Council, not the National Resources Defense Council.
Follow the New York Times’s politics and Washington coverage on Facebook and Twitter, and sign up for the First Draft politics newsletter.
F15-C fighters, have to check it out
AH UWTI 11.50 +11.76% DWTI 85.58 -11.2% CRAK higher
Nothing on regular news feeds yet. Imagine they cover it tomorrow. That piece reads pretty hard if suggests proxy air war like Vietnam.
Just mentioning that a quick google search returned links to story that seem to revolve around non mainstream sources. One has a Christ theme in upper right corner.
Waiting to see if NYT, WaPo, WSJ, FT places give it press time.
Surprised nothing from them yet. Usually would be first page news and several online instant bulletins.
We'll see.
On other side of world. Seems odd this old hot spot would be cooler if US and Russia really at each others throats.
Leaders of China and Taiwan will meet Saturday, a first time since 1949, Taiwan’s news agency said
Tuesday, November 3, 2015 5:15 PM EST
The presidents of China and Taiwan will meet on Saturday in Singapore, Taiwan’s government news agency reported early Wednesday.
It would be the first such meeting since the Chinese Communist Revolution in 1949 that divided the two, in a prolonged and sometimes hostile conflict that has helped shape Asia politics for more than a half-century.
Petrobras says strikes have reduced oil production by 8.5%
18:34 News Bot:
Saudi consumers are still spending like the oil slump never happened
Bloomberg Business ?@business 19h19 hours ago
http://bloom.bg/1M56Aux
API Cushing W/W -508K vs. Prev. -748K
17:33 News Bot: US API Crude Oil Inventories (Oct 30) W/W 2800K (Prev. 4100K)
- API Cushing Inventories (Oct 30) W/W -508K vs. Prev. -748K.
(RTRS)
China gives currency largest boost in a decade
bit more, short article
http://news.yahoo.com/china-gives-currency-largest-boost-decade-031212161.html
China raised the central rate for its yuan currency by the largest amount in a decade on Monday, officials and reports said, just three months after a surprise devaluation sent shockwaves through global markets.
Related Stories
China rate cut lifts most Asia stocks but concerns remain AFP
China mulls allowing individuals to invest more abroad AFP
[$$] Offshore Yuan Slumps on Devaluation Fears The Wall Street Journal
[$$] China’s Central Bank Moves to Spur Economic Growth The Wall Street Journal
China says outflows normal, no panic capital flight Reuters
The world's second largest economy adjusted the yuan's mid-rate upwards by 0.54 percent against the US dollar, according to an announcement by the central People's Bank of China (PBOC).
Bloomberg News reported that the increase was the largest since 2005, when Beijing unpegged the yuan from the dollar.
China gives currency largest boost in a decade
bit more, short article
http://news.yahoo.com/china-gives-currency-largest-boost-decade-031212161.html
China raised the central rate for its yuan currency by the largest amount in a decade on Monday, officials and reports said, just three months after a surprise devaluation sent shockwaves through global markets.
Related Stories
China rate cut lifts most Asia stocks but concerns remain AFP
China mulls allowing individuals to invest more abroad AFP
[$$] Offshore Yuan Slumps on Devaluation Fears The Wall Street Journal
[$$] China’s Central Bank Moves to Spur Economic Growth The Wall Street Journal
China says outflows normal, no panic capital flight Reuters
The world's second largest economy adjusted the yuan's mid-rate upwards by 0.54 percent against the US dollar, according to an announcement by the central People's Bank of China (PBOC).
Bloomberg News reported that the increase was the largest since 2005, when Beijing unpegged the yuan from the dollar.
China buys 2 PE stakes west Texas shale
BusinessInsider.com
Private equity giants are selling their shale to China
by Dave Forest on Oct 31, 2015, 8:02 PM
Very interesting story unfolding this week in the U.S. energy sector; showing several twists emerging amongst the players in this space, old and new.
The Wall Street Journal broke the story Sunday that a new operator is breaking onto the scene in shale. Namely, billion-dollar Chinese property development company Yantai Xinchao.
According to filings, that firm has reached a deal to acquire a package of oil assets in west Texas. Few details were given on the properties -- but the price tag for purchase is significant, at around $1.3 billion.
The company did specify that this billion-dollar property package is located within Texas' Howard and Borden counties, an area that would put the assets within the shale oil hotbed of the Permian Basin.
The entrance of a Chinese player into this shale space, on this large scale, is a big development. But the story has another intriguing aspect -- the people vending the assets to Yantai Xinchao.
That's not one, but two major private equity players. One being ArcLight Capital Partners, and the other Denham Capital Management.
Both of these Boston firms are huge players in the energy investment space, with over $20 billion in funds between them dedicated to the exploration, production and midstream sectors.
And the fact they've chosen to exit the Permian is an interesting benchmark for the industry.
That's because the Permian is held up by analysts and oilmen alike as one of the most profitable plays in America right now. Raising the question: why would savvy investment groups like ArcLight and Denham sell a cash cow, at one of the most depressed times the market has seen in decades?
It's of course possible that Yantai Xinchao's $1.3 billion bid represents a sweet offer. With no details on the properties, we simply don't know if the Chinese owners are paying top dollar per barrel or not.
But whatever the case, this landmark deal shows at least one party (and possibly both) is very motivated -- China to get into shale, or America's private equity insiders to get out.
SEE ALSO: Why oil and gas companies are using fiber optics in their wells
Arbitration Everywhere, Stacking the Deck of Justice
Really long article centered around expansion of laws, rules allowing big corporations. banks, credit cards, chains. etc. to get around class action lawsuits.
939 comments
http://www.nytimes.com/2015/11/01/business/dealbook/arbitration-everywhere-stacking-the-deck-of-justice.html?emc=edit_na_20151031&nlid=16092731&ref=cta&_r=0
Plans to sell tiny part strategic oil reserve
Long article but in end writer comes out saying not as bad as might appear.
Quotes some data via Bloomberg.
http://seekingalpha.com/article/3625586-u-s-kicks-retired-energy-investors-while-theyre-down-with-plans-to-sell-down-strategic-oil-reserve
U.S. Kicks Retired Energy Investors While They're Down With Plans To Sell Down Strategic Oil Reserve
Let's put all these numbers into proper perspective. The U.S., if this bill passes, 2 years from now will begin drawing down from the strategic oil reserve five million barrels per year, which is less than one day's U.S. crude oil production. To repeat, we will be selling off less than one day's production over a full year's time. Does that sound like something for investors to get their panties in a bunch about?
Parent operator I think CS
Likely the investigation deal will come with Credit S being checked out not UWTI or any of that kind under their wing.
Not that the authorities always move with light speed but haven't read any follow yet and usually within two weeks there would be some kind of mention were really serious concerns to arise. Likely some hand rap with promise of corrections/fine. One way or another it'll come out.
UWTI DWTI fairly large volumes so far which means they'd have been all over any really big issues. Don't sweat it until the axe comes down if does.
some eod bits oil & economy
CFTC says oil speculators decreased their WTI net long position by 31,967 contracts to 128,743 for the last weeks data
US Baker Hughes U.S. Rig Count (Oct 30) W/W 775 (Prev. 787)
- US Rotary Oil Rigs (Oct 30) 578 vs Prev. 594
?- US Rotary Gas Rigs (Oct 30) 197 vs. Prev. 193.
(Baker Hughes Inc.)
US crude oil futures settle at USD 46.59/bbl, up USD 0.53 (+1.15%); Brent crude futures settle at USD 49.56/bbl, up USD 0.76 (+1.56%)
Canadian Natural Resources (CNQ) is said to be discussions with pension funds and strategic buyers in regards to offloading its royalty assets, according to sources
Atlanta Fed GDPnow forecasts Q4 GDP at 2.5% and Q3 GDP at 1.1%
US Dallas Fed PCE (Sep) M/M 1.70% (Prev. 1.70%, Rev. 1.50%)
Fed's George states the labor market has recovered fairly quickly
end day CNQ pension funds & royalty assets talks
Canadian Natural Resources (CNQ) is said to be discussions with pension funds and strategic buyers in regards to offloading its royalty assets, according to sources
CFTC says oil speculators decreased their WTI net long position by 31,967 contracts to 128,743 for the last weeks data
US Baker Hughes U.S. Rig Count (Oct 30) W/W 775 (Prev. 787)
- US Rotary Oil Rigs (Oct 30) 578 vs Prev. 594
?- US Rotary Gas Rigs (Oct 30) 197 vs. Prev. 193.
(Baker Hughes Inc.)
US crude oil futures settle at USD 46.59/bbl, up USD 0.53 (+1.15%); Brent crude futures settle at USD 49.56/bbl, up USD 0.76 (+1.56%)
a few eod bits
CFTC says oil speculators decreased their WTI net long position by 31,967 contracts to 128,743 for the last weeks data
US Baker Hughes U.S. Rig Count (Oct 30) W/W 775 (Prev. 787)
- US Rotary Oil Rigs (Oct 30) 578 vs Prev. 594
?- US Rotary Gas Rigs (Oct 30) 197 vs. Prev. 193.
(Baker Hughes Inc.)
US crude oil futures settle at USD 46.59/bbl, up USD 0.53 (+1.15%); Brent crude futures settle at USD 49.56/bbl, up USD 0.76 (+1.56%)
Canadian Natural Resources (CNQ) is said to be discussions with pension funds and strategic buyers in regards to offloading its royalty assets, according to sources
Atlanta Fed GDPnow forecasts Q4 GDP at 2.5% and Q3 GDP at 1.1%
US Dallas Fed PCE (Sep) M/M 1.70% (Prev. 1.70%, Rev. 1.50%)
Fed's George states the labor market has recovered fairly quickly
September Utilization Rate: No Improvement in Offshore Drilling
Lot of rig data in this 3 part series. Rigzone has super low shallow water rigs back at year ago lows and then some.
http://finance.yahoo.com/news/september-utilization-rate-no-improvement-210639250.html
Oilpro comments am. Hal getting to edge.
With this downturn destined for extra innings, the point of maximum pain in the upstream industry is still on the horizon for many producers. Hedges, service price concessions, and asset sales are just a few of the tools operators are using to delay their discomfort.
But for many oilfield service providers (especially the completion-oriented), the point of maximum pain is much closer. While operators can turn up production volumes from existing fields to help offset commodity price declines, service provider financials have been ransacked by both price and volume (utilization) mayhem.
The four key SMID-cap NAM service providers have lost money every quarter this year, and breaking points are close at hand. In the Permian Basin, only half the companies from a year ago are still bidding for frac work. That's still too many for the few available jobs, so frac crews are working for free to stay busy. This is not sustainable, and "Darwinian" has become the latest industry buzzword.
A leading NAM service provider we spoke with this week told us that further pricing degradation will be the nail in their coffin. Operators keep asking service providers what their bottom price is, and service companies are spending thousands of man-hours trying to explain that their bottom price was hit months ago.
When Halliburton starts losing money in North America, weaker hands fold. And Halliburton will start losing money in North America this quarter. Completions-oriented services are hurting the most, but the maximum pain threshold will be tripped in many other service lines during 2016. For example, deepwater drilling rigs are now bidding at dayrates near cash break-even levels.
So what's left to cut? Cuts from here will be into muscle not fat, and safety and workforce readiness risks will rise. There is no gamesmanship at play when service companies say there isn't anything left to give without permanent and long-lasting impairment to the oilfield value chain. More outright exits and consolidation will soon permanently scar the oilfield landscape. Operators counting on continuing service concessions to delay their day of reckoning should understand that for many service providers, the day of reckoning is already here. -- Joseph Triepke, Oilpro Managing Director
OIH unusual bearish options surge
short piece & chart. Boat getting pretty one-sided.
http://www.financialmagazin.com/market-vectors-oil-services-etf-unusual-bearish-options-activity-means-higher-risks/
In today’s session Market Vectors Oil Services ETF (OIH) recorded an unusually high (592) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2015 put, expecting serious OIH decrease. With 592 contracts traded and 4013 open interest for the Nov, 15 contract, it seems this is a quite bearish bet
OIH unusual bearish options surge
short piece & chart. Boat getting pretty one-sided.
http://www.financialmagazin.com/market-vectors-oil-services-etf-unusual-bearish-options-activity-means-higher-risks/
In today’s session Market Vectors Oil Services ETF (OIH) recorded an unusually high (592) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2015 put, expecting serious OIH decrease. With 592 contracts traded and 4013 open interest for the Nov, 15 contract, it seems this is a quite bearish bet
Where the US gets its electricity
Petroleum only 1%
Chart breaks it down. Coal largest and w/ natty that's 67%. Nukes are 19% which I didn't realize.
http://www.ritholtz.com/blog/2015/10/where-the-us-gets-its-electricity/
Where the US gets its electricity
Chart breaks it down. Coal largest and w/ natty that's 67%. Nukes are 19% which I didn't realize.
http://www.ritholtz.com/blog/2015/10/where-the-us-gets-its-electricity/
Another oil piece -- drill permits
http://finance.yahoo.com/news/september-drilling-permits-offshore-industry-210641280.html
Drilling permits
In September, no drilling permits were issued to drill new wells in the shallow water of the Gulf of Mexico. Five permits were issued to drill new wells in the deep water of the Gulf of Mexico. This was lower than August when nine permits were issued.
GPRO saw that. share buy back CC ahead
double miss with CC ahead for guidance. buy shares but what's planned ahead is key
Offshore rig count up a bit article
quick piece & chart.
http://finance.yahoo.com/news/us-offshore-rig-count-rose-200657964.html
Offshore rig count up a bit article
quick piece & chart.
http://finance.yahoo.com/news/us-offshore-rig-count-rose-200657964.html
Econoday comments on EIA report
Oil stocks keep rising, up 3.4 million barrels in the October 23 week to 480.0 million. Refinery demand for oil is moderate with refineries operating at 87.6 percent of capacity in the week, well down from 90 percent plus readings when output is active. Gasoline inventories fell 1.1 million barrels in the week with distillates down 3.0 million. But refineries may very well pick up output based on demand indications which are strong, up a year-on-year 3.4 percent for gasoline and up 10.0 for distillates. WTI, near $45.50, is up about 50 cents in early reaction to today's results.
930am CT EIA
UWTI hits $10 10:45 ET
US DoE Cushing OK Crude Inventory (Oct 23) W/W -785K vs. Exp. -250K (Prev. -78K).
EIA Petroleum Status Report
Crude Inventories prior 8.028M consensus 3.417M actual 3.376M
Distillates prior -2.622M consensus -1.683M actual -2.951M
Gasoline prior -1.518M consensus -0.817M actual -1.137M
10:33 News Bot: Oil has taken a move higher in recent trade, with WTI crude Dec'15 futures tripping stops above the USD 44.00/bbl handle to approach USD 45.00/bbl to the upside although has now pared a large part of the move to trade at USD 44.40/bbl
Thanks been watch BABA BIDU few days. em
AAPL China sales ??
hmm Initially CNBC was saying Apple China sales 99% or so but then read into numbers and wha? Had been reading stories of how Chinese seem to be going for in Country brands.
MW Apple earnings: the numbers everyone is obsessing over
By Sally French and Jessica Marmor Shaw , MarketWatch
Apple Inc. (AAPL) earnings never fail to disappoint the number-crunchers and this quarter, as ever, the iPhone maker provided plenty of figures to dissect from every angle imaginable (http://www.marketwatch.com/story/apple-earnings-lifted-by-iphone-sales-in-china-2015-10-27-164854532).
Related: In one chart: How Microsoft has trumped Apple since Steve Jobs's death (http://www.marketwatch.com/story/in-one-chart-how-microsoft-has-trumped-apple-since-steve-jobss-death-2015-10-27)
IPhone sales drew the lion's share of attention from analysts and stock watchers. Apple said its quarterly profit rose 31%, sparked by strong demand for iPhones in China . It sold 48.04 million iPhones in its fiscal fourth quarter, falling short of analysts' estimates of 48.72 million units in the quarter. So to put that into perspective:
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)These are always interesting numbers – iPhone ASP continues to be much higher year on year, iPad ASP stabilizing pic.twitter.com/ZgaH1b8u4Z
— Jan Dawson (@jandawson) October 27, 2015
)In case you have any doubt about China’s importance to Apple’s growth… pic.twitter.com/nSMkUSYYwd
— Jan Dawson (@jandawson) October 27, 2015
)If Apple went to the bank and took out all its cash in $20 bills, they would stretch end-to-end to the moon and back. Twice. $AAPL
— Ivan the K™ (@IvanTheK) October 27, 2015
)Apple's $205BB cash pile is greater than the stock market values of Disney, of Walmart and of Bank of America.
— Peter Lattman (@peterlattman) October 27, 2015
)Apple's $205 billion in cash is almost TWICE AS MUCH as the U.S. has in Foreign Exchange Reserves.
— Stocktwits (@Stocktwits) October 27, 2015
CHART: https://t.co/3JajVfNfqn $AAPL
YRCW -11% and see Swift on list
Swift Transportation to halt trucking fleet growth
furniture guys weak, hmm can be leading tell some times.
API more detail. dist & Cushing fell neg
US API Crude Oil Inventories (Oct 23) W/W 4100K (Prev. 7100K)
- API Cushing Inventories (Oct 23) W/W -748K vs. Prev. 22K.
- API Distillate Inventories (Oct 23) W/W -2600K
(RTRS)
NOC ya. API more detail. dist & Cushing fell neg
US API Crude Oil Inventories (Oct 23) W/W 4100K (Prev. 7100K)
- API Cushing Inventories (Oct 23) W/W -748K vs. Prev. 22K.
- API Distillate Inventories (Oct 23) W/W -2600K
(RTRS)
NOC wins $100B bomber DoD news
The Pentagon awarded Northrop Grumman Corp. a huge contract to build new long-range bombers for the U.S. Air Force after the market close on Tuesday.
Northrop Grumman Corp. was vying with the team of Boeing Co. and Lockheed Martin Corp. to build an initial 21 jets of the 100 sought by the Air Force to replace aging B-52 and B-1 planes at an estimated cost of $80 billion . The first aircraft are due to enter service in the mid-2020s.
The new radar-evading bomber is designed to fly undetected into the territory of potential adversaries such as Russia or China that have upgraded their air defenses. The plane is capable of firing conventional and nuclear weapons, becoming the third leg of the nuclear triad alongside submarine and land-based ballistic missiles
The announcement follows what analysts have called the most fiercely fought military-contract contests in more than a decade. It concludes a four-year process clouded in secrecy as most of the bomber's details were highly classified.
Defense Secretary Ash Carter is due to hold a media conference after the contract announcement.
Pentagon officials have in recent weeks provided a few more details on what the Air Force has called one of its top three priorities, alongside the Lockheed-built F-35 fighter and Boeing -built KC-46A refueling tanker.
Analysts said the additional disclosures reflected heightened scrutiny from lawmakers because of the program's huge cost, as well as the likelihood that the loser will protest the initial contract award.
Defense experts had said Boeing or Northrop could be forced to shrink or sell parts of their military aircraft business if they lost.
However, the chief executives of Boeing and Northrop Grumman --which reports third quarter earnings before the market open on Wednesday--have both played down the notion of the bomber contest being transformational to their businesses.
Plans for a new bomber were cancelled in 2009 before being revived shortly afterward, with the proposed planes viewed as more effective than long-range cruise missiles.
Other technologies such as hypersonic jets or swarms of unmanned drones aren't considered to be mature enough, though critics of the bomber plan have said it could become outdated as air-defense technology improves, and didn't address the challenges created by the emergence of new military threats such as Isis.
The bomber plan will be closely watched as the Pentagon and lawmakers try to overhaul the way it designs and builds weapons systems to break a run of cost over-runs and delays.
The Pentagon has capped the average production cost of each bomber at $550 million in 2010 dollars , though this excludes what analysts estimate to be around $20 billion in development funding.
It's also tried to use existing technologies in an effort to reduce costs and risks.
"Just because it's existing technology doesn't mean it's not incredible, " Air Force acquisition chief Bill LaPlante told reporters last week.
Previous bomber programs have been severely curtailed because of funding issues. Northrop built only 21 B-2s from an original plan for 132, with a cost of more than $1 billion each.
The Pentagon isn't expected to disclose other suppliers involved in the Northrop and Boeing /Lockheed bids, including who might supply the engines and radars. However, General Electric Co. and the Pratt & Whitney arm of United Technologies Corp. are expected to have offered competing engines, according to industry officials.
Write to Doug Cameron at doug.cameron@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
10-27-15 1720ET
Copyright (c) 2015 Dow Jones & Company, Inc.
API lower build seen 4100K than prior week
note, doesn't always match with EIA Weds am UWTI ah 8.66 -0.29 bit better than lod. DJT really deep day -218.74
US API Crude Oil Inventories (Oct 23) W/W 4100K (Prev. 7100K)