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Friday, May 14th, 2021 Oil prices rebounded on Friday after a midweek selloff. Neither the bullish nor bearish narratives are taking hold at the moment, and Brent crude is trading in the upper-$60s.  Colonial pipeline restarts. The Colonial Pipeline restarted product flows on Wednesday, although localized shortages will take time to ease. The company reportedly paid the ransom, but the operator of the ransomware group Darkside said on Friday it had lost control of its servers and some of the money it had made through ransom payments. Exxon ratchets up Guyana production. ExxonMobil (NYSE: XOM...

Friday, May 7th, 2021 Brent tested $70 per barrel on Wednesday but fell back on Thursday. Oil “had a great run, but it got a little bit ahead of itself,” Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago, told Bloomberg. “We’ve hit resistance and prices pulled back,” but it’s hard to see a summer demand boost “being derailed,” he said. Oil is still set to close out the week with another gain. Sempra to delay Port Arthur LNG. Sempra Energy (NYSE: SRE)said on Wednesday that it would delay its proposed Port Arthur LNG project until 2022 instead of this ye...

-     Air travel is on the rise in the U.S., indicating an uptick in jet fuel demand. -    Jet fuel demand has averaged 1.2 mb/d over the past four weeks, up 200,000 bpd from March levels. -    In March, 1.2 million passengers passed through U.S. airports per day on average. That jumped to 1.4 million passengers per day in April.  Market Movers Valero (NYSE: VLO) to its focus list, raising its price target to $121 per share, up from $95. -    Bank of America upgraded -     Tuesday, May 4, 2021  Oil prices jumped to a seven-week high as markets are pricing in higher demand ex...

Chart of the Week -    New debt and equity issuance from U.S. E&P companies totaled $4.4 billion in March 2021, the most since August 2020. -    In fact, new financing has been on the rise steadily for each month since September 2020. Low interest rates and higher oil prices have improved access to capital.  -    The EIA forecasts U.S. oil production rising from 10.7 mb/d in 2Q2021 to 12.2 mb/d in 4Q2022.  Market Movers -     The California Public Employees’ Retirement System (CalPERS)said on Monday it plans to vote for Engine No. 1′s four director nominees to ExxonMobil’...

Video streaming giant, Netflix Inc. (NASDAQ:NFLX), is just coming off a banner year whereby the company’s subscriber tally set new records, managing to once again shrug off intense competition from streaming rivals. Netflix gained 37 million new subscribers in 2020, easily besting its previous record gain of 28.6 million new subscribers in 2018, to finish the year with 203.67 million paid subscribers worldwide. Obviously, Netflix had Covid-19 and the stay-at-home trend to thank for the massive growth as consumers sheltering at home turned to streaming entertainment in droves. But with econ...