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EconMatters

By EconMatters
EIA Report
I looked over the weekly Petroleum Inventory Report put out by the EIA today, and the biggest takeaway by far was that US Oil Production set a new modern era high at 9.566 Million Barrels per day. The last high in US Production occurred in March, and it appeared that the US Production numbers were getting …

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By EconMatters
Shanghai Tower (Center), Source: Forbes.com
China Builds World’s 2nd Tallest Skyscraper The world’s 2nd tallest skyscraper, Shanghai Tower, at Lujiazui, Pudong, Shanghai, China is to open to the public in a month or two (mid-2015). It measures 2,073 feet with 128 stories in the financial district of Shanghai, only surpassed by Burj Khalifa in Dubai at 2,722 ft.…

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By EconMatters Some long time readers probably know I occasionally write about Asian geopolitics related to China and Taiwan.  Since Taiwan typically goes under the radar of major news media, I usually google browse both Chinese and English news about Taiwan.  Over the weekend, I came across one disturbing piece of article by Hugh White who’s a professor of strategic…

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By EconMatters Oil hit 2015 high with WTI at $60.40 and Bent at $68.40 end of trading on Tuesday. Crude prices have now risen 50% in just over three months.  The overall oil market sentiment is very bullish as CNBC reported hedge funds and money managers raised bets on rising Brent prices to another record, data showed on Monday, pushing…

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By EconMatters David Einhorn, the famous billionaire hedge fund manager, just found his next target: U.S. onshore E&Ps or the oil fracking companies. He laid out his short thesis during the annual Sohn Investment Conference in New York. The share price of Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho Resources (CXO), Continental Resources (CLR) and Whiting Petroleum (WLL) dropped just…

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By EconMatters Twitter’s had a very bad week when its stock tanked ~ 27% in 5 trading days.  It all started when its weak 1Q earnings was posted early by Nasdaq on Twitter’s IR web page.  Twitter originally planned to release earnings after market close on Tuesday (so investors may have time to digest the not-so-impressive 1Q numbers to perhaps…

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By EconMatters
Magical Sleight of Hand
The old shell game of three shells and a pee where the viewer tries to guess under which shell the pee resides is often used to manipulate participants in order to take their money. Well the oil storage market is just about as shady as some guy on the corner trying to steal your …

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By EconMatters Market Watch reported the American Petroleum Institute (API) late Tuesday reported that crude supplies rose 4.2 million barrels for the week ended April 24. That was three times more than the 1.4 million-barrel increase forecast by analysts surveyed by Platts.
Chart Source: Zero Hedge, April 28, 2015
API data also showed gasoline stockpiles rose 408,000 barrels, while distillate

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By EconMatters Crude oil has been the center of energy-related headlines since 2H14 when it started its dramatic ‘normalizatin’ process while everybody (us included) seems to have forgotten about natural gas.  So we thought we should give an update on natural gas as well. Market Watch reported that May natural gas NGK15 settled at $2.49 per million British thermal units…

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By EconMatters
Whistleblower Program
The past week we have made markets safer by arresting the dangerous flash crash villain who was a threat to national security and the health of the entire financial market system. Like I always say when in doubt follow the money trail in identifying motives and what is really going on here in this Flash Crash …

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By EconMatters
Treasury, Fed, CME & HFT Community
Since there seems to be a fundamental lack of knowledge lately regarding market crashes, I thought I would explain what happened in the epic bond market crash of last year. It seems Treasury along with the Fed and various other players from the CME and the large financial institutions have been searching …

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By EconMatters Oil Glut Build in PAD3 Gulf Coast
Used oil barrels at a storage in Seattle PHOTO: REUTERS
As expected, EIA on Wednesday reported for week ending April 17, U.S. crude-oil inventories gained 5.3 million barrels to 489 million barrels, which is still the highest in at least 80 years, according to the EIA. Looking closer at each PAD region, almost…

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