By Paul Sankey
Published on March 25, 2024 at 2:11 PM
Gas station stocks: low end consumer weakening. Gas station play Alimentation Couche Tard ($ATD) profit warning. Negative implication for refiners with gas stations, such as DINO. We are backing off our “long gas station stocks” stance but still prefer MUSA (Murphy USA), with its massive buyback and low volatility. But watch for a couple of tough quarters ahead. We like long gasoline (equity ETF is $UGA) as a trade into Memorial Day on supply tightness, …
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By Paul Sankey
Published on March 24, 2024 at 7:13 PM
Delayed last night in Boston by severe storms and a ground stop at La Guardia, eventually we were the last flight to leave Logan Terminal A, and barreled into New York like a bucking bronco, especially for those of us at the back of the shuttle. We landed screaming hot, through the driving rain to what felt like a skidding stop. Welcome back to New York. Freezing! Three weeks on the road, with a final …
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By Paul Sankey
Published on March 17, 2024 at 4:32 PM
Greetings, Happy St Patrick’s Day to all, not least my wife Patricia and her mom, Patricia, both “Paty”. A thought today for my Irish grandmother, Ivy. From Cork. This past week: ExxonMobil slipped out the old Friday-night-after-the-close press release on yet more Guyana exploration success Profrac announced a market share war in US pressure pumping that we thought so significant, we started a major oil price & market thematic. Stay tuned on ACDC (the ticker …
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