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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Sunday Sankey 1/3/21

By Paul Sankey Published on January 3, 2021 at 12:02 PM

Well Happy New Year! This week in the Sunday Sankey we run through slides with attention on our refining conference starting tomorrow. It is not too late to register, dear clients… welcome to the slimmed down distribution list that like me, will be on a strict diet. At the same time, tomorrow OPEC meets, believe or not, as they shift to a monthly meeting. JMMC is meeting today, word is Russia is keen to increase […]

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Sunday Sankey 12/20/20

By Paul Sankey Published on December 20, 2020 at 11:09 AM

Special Sunday Sankey featuring the legendary oil’s share of the S&P500 vs oil’s share of the S&P500 earnings charts! Sadly, it was not worth running them all year, given the horrendous earnings of the sector in what will be the worst year in the history of oil relative to expectations. Now, as we look directly into 2021, the charts are beginning to make sense. More inside this note but a couple of starters for you, […]

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