DATA FLASH: US INITIAL CLAIMS DIP; 36.5 MLN SINCE MID-MARCH
–Initial Claims Fall 195,000 to 2.981 Mln; Signs Backlogs Winding Down–Import Prices Fall 2.6% in April; Still Down 0.5% Excluding Fuels By Kevin Kastner WASHINGTON (MaceNews) – The rate of initial claims growth slowed further in the May 9 week as backlogs are worked down, but there is no indication that the number of people […]
DATA FLASH: US APRIL CPI FALLS 0.8%, CORE -0.4%, LARGEST DROP EVER
–Energy Prices Account for Most of Headline Decline; Foods Prices Up–Owners’ Equivalent Rents Up 0.2%, Lodging Away from Home Cut 7.1% By Kevin Kastner WASHINGTON (MaceNews) – Consumer prices fell as expected in April, with a plunge in energy prices the key factor due to severely reduced demand for gasoline as consumers stayed off the […]
TEXAS OIL REGULATOR VOTES AGAINST CAPPING STATE’S OIL PRODUCTION LEVELS
–Waives Fees, Relaxes Regulations To Support Companies And Boost Storage Capacity By Brai Odion-Esene, SW4 Insight, for Mace News WASHINGTON (MaceNews) – Texas’ oil regulator Tuesday decided against imposing limits on production by the state’s energy industry, but approved financial and regulatory relief to struggling oil companies. The measures passed by the Texas Railroad Commission focused […]
IEA PREDICTS ‘SIGNIFICANTLY DIFFERENT’ ENERGY SECTOR POST-COVID 19 CRISIS
WASHINGTON (MaceNews) – The demand destruction sparked by efforts to contain the global coronavirus pandemic will have a lasting impact on the energy sector, the International Energy Agency predicted Thursday, warning that financial struggles could become a permanent feature of the industry’s landscape. “This unprecedented situation and the stimulus packages that governments are putting in […]
IEA: DOUR ENERGY DEMAND OUTLOOK, REBOUND HINGES ON LOCKDOWN LENGTH
WASHINGTON (MaceNews) – Global energy demand will drop by 6% in 2020 – far outstripping the decline witnessed after the 2008 global financial crisis, and a rebound will be heavily-dependent on how long measures to contain the coronavirus pandemic remain in place, the International Energy Agency said Thursday. The group’s 2020 Global Energy Review said […]
WHITE HOUSE WATCH COMMENTARY: SOMETHING OFF KILTER IN A SHAKY WEEK
By Denny Gulino WASHINGTON (MaceNews) – There were moments in the week just past when everything made sense, virus deaths were leveling in many areas including the New York City metro, the government’s efforts to massively ramp up the acquisition and production of medical gear were on track and the markets were moderately positive. The […]
US ENERGY SECRETARY: INDUSTRY AID TO FOCUS ON EXISTING PROGRAMS
–Oil-Producing States Cooperating To Influence Oil Price A ‘Murky Area’ WASHINGTON (MaceNews) – U.S. Energy Secretary Dan Brouillette Tuesday said the Trump administration is unlikely to unveil brand-new measures to support the country’s battered oil and gas sector, and will instead leverage existing credit programs funded by emergency legislation. In an interview on CNBC, Brouillette […]
TEXAS ENERGY REGULATOR DELAYS OIL PRODUCTION VOTE UNTIL MAY 5
—Wants Time To Assess Legal Risks, Potential Industry Impact By Brai Odion-Esene, SW4 Insight, for Mace News WASHINGTON (MaceNews) – A divided Texas Railroad Commission Tuesday postponed its vote on limiting oil production in the nation’s largest oil-producing state, with the majority preferring to conduct additional due diligence and avoid potential legal minefields. “We need […]
WHITE HOUSE WATCH: IS OIL SPECIAL OR LOTS OF BOTTOMLESS HOLES?
By Denny Gulino WASHINGTON (MaceNews) – It’s the night of the living dead in Houston, where the unthinkable happened, oil became worthless. In fact, oil became even worse than worthless. It was a day so bad that you had to pay people to take it. If you were a trader who never took delivery, only […]
WHITE HOUSE WATCH: ‘DECLINING TRAJECTORY’ DOES NOT NECESSARILY MEAN DECLINING
By Denny Gulino WASHINGTON (MaceNews) – The first rule of virus reporting is to focus on what the virus is doing, despite the many distractions from the White House and statehouses, from anti-mitigation demonstrations to progress reports on testing and the chronic complaints of short supplies. On a beautiful Sunday in many parts of the […]