By Paul Sankey
Published on November 1, 2024 at 7:33 AM
In the US suburbs, those Halloween avenues, a “yard sale” is an innocent family rite of passage where the garage is cleared, and in the excitement you try to dump as many of the kids grown-out-of toys. In our world, is the equivalent of a major oil company announcing yet another disposal target. But in skiing, a “yard sale” describes a level of wipe out so spectacular that gear is smashed off the skier, poles, …
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By Paul Sankey
Published on October 31, 2024 at 8:20 AM
The two largest US natural gas E&Ps reported this week, which was interesting. Our observation would be that these companies have gone from buying volatility (hedging their production) to selling volatility (holding spare capacity of unproduced but quickly available natural gas supply) and hence will dampen volatility in US natgas. “Why have oil prices not soared on wild Middle East turmoil, oil should go to $200/bbl?” question the oil tourists. No, spare capacity massively dampens …
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By Paul Sankey
Published on September 6, 2024 at 11:00 AM
Numerous conversations with clients this week, which was fun. I miss the days of the trading floor, of the random conversations, of the face-to-face interaction, hey, the water cooler. We had a great live Happy Hour on the rooftop of the Knickerbocker Hotel this week. My friend Rob is in New York luxury hotels, and business has never been better. The head of events at the Knickerbocker said “We get 85% occupancy without trying, and …
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