Sunday Saudi Puts, Iran Puts, SPR Puts, and

By Paul Sankey Published on May 12, 2024 at 7:08 PM

We have hit that point in oil markets when suddenly, just like that, all the newsflow turns bearish. Better put “seems bearish”. Once again, like our commentary on US distillate looking less terrible when you add back renewable diesel (note published last week), latest reports of the death of the oil market are over-stated. Prior reports have proven completely wrong. While there may be bearish fears regarding the upcoming June 1st OPEC meeting, the reality …

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CERA Week – the best XOM vs CVX-HES Guyana theory.

By Paul Sankey Published on March 20, 2024 at 8:55 AM

CERA Week key interest – certainly among the gaggle of merger arbitrage clients that attended this week – was for Chevron, Hess, and ExxonMobil, not least with XOM suddenly releasing a Guyana exploration 8K after the market Friday into the conference open, where Day 1 the star plenary speaker was ExxonMobil CEO Darren Woods. He said a lot, directly pertaining to Guyana, so the 8K was clearly related. One key line was “we are not …

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Morning You Can’t Buy Chips and Short Energy

By Paul Sankey Published on February 1, 2024 at 9:23 AM

Happy Hour today with Frank Kelly, of Fulcrum Macro, our favourite Washington DC/global geopolitics expert. Register here: Frank began his career as a writer for President Ronald Reagan and went on to serve in the White House Office. He served as a writer for President George H.W. Bush and then at the Justice Department, focusing on national security and international issues. From there, Frank went to the US Securities and Exchange Commission, as Senior …

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