By Paul Sankey
Published on October 17, 2026 at 4:27 PM
We had Chevron giving indications for the quarter on “Happy Hour” last week; the other majors have published third-quarter trading updates. Those also give a read for Valero, Phillips 66 and Marathon Petroleum, the independent refiners, and Dow. Not sure I can remember a time that I have loved the big Integrated Oils as much as right now. The risk is excess profit, and thus political windfall tax pressure, but the governments that made that …
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By Paul Sankey
Published on September 27, 2026 at 6:43 PM
This morning getting coffee was a wet and blustery experience. That said, my backyard (surrounded by buildings) weather station records 0.6” rain and 20mph wind peak gust (JFK recorded a 56mph gust, but flights basically fine). Nor’Easter fake news? It is more lively out on the Brooklyn Heights Promenade for sure, and the tide is lapping as high as I have seen it along the shore in Brooklyn Bridge Park. The main observation is that …
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By Paul Sankey
Published on September 13, 2026 at 6:21 PM
Greetings, Well we have quite the week-end headline from Saudi Arabia, with the officially-announced shut down of the East-West 4mb/d pipeline. Source: Reuters Meanwhile, indirectly adding to the pressure on Saudi Arabia, Iran meets UAE publicly. Keep in mind that my view had been the IRGC would never attack Dubai, because that is where their Ferraris are. The fact of direct attacks on Dubai by Iran was a massive red flag for the scale of …
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