S&P 5004462.09+66.45+1.51%

Nasdaq15056.79+159.94+1.07%

VIX18.75-2.12-10.16%

DXY93.02-0.43-0.46%

CO4.600%

WTI76.65+0.21+0.27%

NATTY6.7-0.1-1.47%

Quote of the day: “The windows are open, admitting the September breeze: a month that smells like notepaper and pencil shavings, autumn leaves and car oil. A month that smells like progress and moving on.” – Lauren Oliver

Canadian Majors
Paul Sankey

Airworld Sankey 9/21/21

Comment to my sister yesterday on life in London with my mother: “Nothing’s burning, apart from the stock market.” Oil behaved great especially as the US$ strengthened. Noted oil laggards like $EQT flat on the day. Bullish action for us “energy tranistion” folks. Regular readers will recall it is not two weeks ago we had a China expert, Ryan Haas, Brookings Institute, on Happy Hour. I checked in with Ryan yesterday, and his call. He

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Sunday Sankey 9/19/21

Quick Sunday Sankey today. If you want to read more, yesterday there was a long email on Europe vs US energy transition dynamics with a focus on two leaders: UK and Germany. Emailed yesterday on the web at www.sankeyresearch.com It has occurred to me that we may just enter a long, grinding, bear market, as stretched valuations and lack of new marginal buyers slowly erode the market. I mean like a 1970s multi-year market deflation.

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Apache
Paul Sankey

Germany & Britain vs the USA

Greetings from London, You live in the UK and have avoided death by COVID? FT: In the UK, 4m households were unable to afford to adequately heat their homes even before the latest energy price crisis. Some 10,000 deaths a year are linked to living in a cold home, according to the charity National Energy Action. If that represents around 100 deaths per day over the average of four winter months, high energy prices are

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Baker Hughes
Paul Sankey

Xi-unday Sankey 9/12/21

In this note, natgas hedging exposure (oops) and a China focus. My S&P500 sentiment Twitter survey yielded a result that is spectacularly unhelpful, lol. Pretty much 50:50 bullish/bearish. All I can say is that it seems I got the categories right, given an almost exact balance between the four choices. One observation made by a major market maker to me this past Friday was that the market absorbed a ton of paper last week, between

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Apache
Paul Sankey

London Sankey 9/5/21

Enjoy the last weekend of summer, beautiful day here in London, readying ourselves for next week with a slew of oil corporate oil & energy newsflow in “conference season” starting with this week’s traditional “Lehman Conference”, as we oil old schoolers know it. For my entire career, the Lehman conference has occupied the oil/energy week after Labor Day. Post-Labor Day, for me, as a research analyst, opens the Wall Street year, back when it culminated

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Diamondback Energy
Paul Sankey

Where’s Sankey?

Good morning from London Great week last week for all our favourite sectors, the Oils, Metals & Mining, Refining, as well as recovery play JETS (exchange traded fund ETF performance is shown below for past week/year to date). Last week firmly re-establishes oils – almost even including MLPs – into the position of market leadership this year. Other leading sectors year to date, but not the past week, are Retail, Homebuilders and Communication Services.  See

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