Sunday Sankey 7/4/21

By Paul Sankey Published on July 4, 2021 at 12:30 PM

Happy July 4th Here’s to democracy and freedom. Usually, I make some dumb joke about being British and not celebrating any Independence on July 4th, but this weekend marks the first anniversary of Sankey Research. My first note, quoting Public Enemy as a statement on freedom of speech, was sent out the Friday of July 4th weekend 2020, and for long as it may continue, the anniversary of Sankey Research will be Independence Day weekend. […]

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Morning Sankey 5/5/21

By Paul Sankey Published on May 5, 2021 at 8:31 AM

Brent is approaching $70/bbl, with big API draws released yesterday evening, a level that can hide a multitude of strategic sins for oil companies, at least upstream. Be warned, we have had a couple of strategic doozies this year, but with that said, the majority of companies are bang on script, notably Devon last night underlined what an upside surprise cash return to shareholders can do for your quarterly results. Analysts can fiddle and fuss […]

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Morning Sankey 3/18/21

By Paul Sankey Published on March 18, 2021 at 8:49 AM

Yesterday’s DOE data was brutal for US refiners and particularly PBF. We had been hoping for a much more bullish picture – we got increases in crude AND product inventories. Imports surged particularly into New York Harbor – hence the PBF reference – as European refiners, desperate for market, scramble to attack the surge in gasoline prices caused by the Texas Crisis. This should be a brutal month for refiners, as the quarter ends and […]

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