Replies to post #14253 on Viewer's Choice

[littlejohn]

VTLE, REI, EGY, pick one and it

went limp on Tuesday...

It's like Elway looking off the deep

safety before throwing deep...

Seems to happen before Easter to give

drivers false hope for cheaper summer

prices ahead...

The deep throw is coming before summer...



Laffer of the day seemed to be Joe saying,

U.S. will rebuild the Maryland bridge...

An insurance company for the ship that

took out the bridge is totally responsible

for paying for expenses to rebuild it...

Daily foo-faa from Joe it seems...

Uuuhhh, it will increase fuel demand too...


So we watch...LJ

[littlejohn]

Gasoline demand was lower again versus

the year ago week in the

inventory report on Wednesday...

Trend stayed intact for all of the

1st quarter of 2024...lower demand...

Oil stocks plowed higher on Thursday

to close out the 1st quarter...

After more sales to close out week,

will have very little to watch in the

2nd quarter in the sector now...


So we watch...LJ

[littlejohn]

Cal seeing $6/gal. to $7/gal. gasoline

soon if we see oil move on up

to near $100/bbl looking probable...

Oil price rise has been aided by

EIA data that fuel demand has been

above year ago levels in 1st quarter...

Everyone knows that natural gas demand

has been down due to warmer weather...

My own weekly watch on gasoline demand

versus the year ago level has been

seeing lower demand...

But there has been spin info put out

that says EIA data shows a year over

year increase in fuel demand...

Oil future traders have been going with

the spin data out there...

Which means that increasing momo in

oil price could see it spike at anytime

due to the betting positioning now...

Nevermore quoth the Raven will there

be any interest rates dropping this year

if oil prices hold these levels or spike...

Take the over on Cal gas prices until the

oil price rise momo drops...

VTLE hedges on over 50,000 bbls/day

of oil production moves up to about

$74+/bbl. in 2nd quarter and above

the $73+/bbl. hedges in 2nd quarter...

They missed the boat on the price

pump up on oil this go round, Imo...


So we watch..LJ