Morning PSJeff 4/9/21

By Paul Sankey Published on April 9, 2021 at 8:28 AM

What’s Sisyphus’ least favorite band? The Rolling Stones We visited Japan for two weeks and did not see a single ninja. It was really impressive. “Officer, you can’t give me a ticket. I have to go run the marathon tomorrow.” Cop: “That’s not how you play the race card.” The Ketchup shortage this year was so predictable. Heinz sight is 2020. Happy Hour yesterday evening, we had a player whose firm had done a deep […]

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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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Sunday Sankey 1/24/21

By Paul Sankey Published on January 24, 2021 at 12:33 PM

“Does anybody in Washington care about the deficit? I mean 25% of all dollars ever printed were printed in 2020, and the total stimulus at $5trn, so far, exceeds the GDP of Germany… and Biden plans more…” I asked Frank Kelly, head of government affairs at DB, as we sat in Great Falls, just outside Washington DC, in a gastropub. We had driven past the preposterous mansions that line the road of this former farming […]

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