Bullets from our oil market conversation last night, that was dominated by star guest Kathleen Kelley, but these comments are deliberately a mix of the observations made: Bearish: Biden Administration Energy Secretary Jennifer Granholm walkback comments regarding NOT rebuilding the Strategic Petroleum Reserve (this year), despite prices that have fallen below the $72/bbl floor at which she had said the US would start rebuilding. This further undermines what little credibility the Administration has with the…

This evening, our favourite former advisor to the Saudi Oil Minister, Kathleen Kelley on commodity markets. CEO of Queen’s Gate Capital. 5pm Eastern Time. 9pm London time. 3pm central Mexico time, from where I am hosting. Back in Brooklyn Saturday, God willing. Register in advance for this meeting: https://analysthub.zoom.us/meeting/register/tZMvcO2orzwtHN3wVCRJPwlFFKbVr9TgmSjQ ~ The tape is bouncing around and taking alternative energy up and down like a yo-yo, never mind the oils which are struggling with the sell-off…

One of my rules of Wall Street was, when I ran top oil & gas research teams at investment banks; later when I edited research as a Series 24 compliance; and it should be a lesson for all analysts: “Don’t tell a fund manager the fking performance.” Telling a money manager what performance has been, is like emailing a TV weather presenter a description of last week’s weather. In our defense, we do slice the…