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Democratization of Money vs. Economic Feudalism

The Fed is the Market, Until Someone Bigger Comes Along..  UPDATE:This editorial was written  3 days ago in reaction to reading the Zerohedge post As Bitcoin Nears $10,000 “Central Banks Kept Up At Night” by Vince Lanci “Free markets for free men”- patch worn on the Nymex floor during Iraqi war.  The reality: We were cheerleaders for Halliburton […]

OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55

In its latest OPEC Monthly Oil Market Report (October) the oil cartel has increased its oil demand estimates for 2017, 2018 on strengthening world economy, and weaker outlook for supplies from its rivals. Specifically, OPEC forecasts that based on the current global oil supply/demand balance, demand for OPEC crude in 2017 is estimated at 32.8 […]

Bitcoin Bloodbaths, Tech Stocks Tumble After Dismal China Data, Korea Concerns

Dismal China data, 3 North Korea "prepping missiles" headlines and a North Korean "threat" headline – probably nothing…   Chinese economic data plunged overnight – the biggest disappointment to market expectations in 6 months…   Of course, US equity traders bought the fucking dip at the open into the European close, but were disappointed that […]

Harvey Hangover Hits Pump Prices, Jet Fuel Premium Highest Since 2008

"It's only just beginning," warned one seasoned veteran energy trader as the hangover from Hurricane Harvey flows downstream to retail gas prices and jet fuel premiums. As Bloomberg notes, Harvey impact currently includes: Colonial says it’ll commingle Rbob and conventional gasoline Explorer Pipeline planning to start lines Saturday, Sunday Logjam grows to 29 oil tankers as 11 ports […]

Gas Station Shortages Expected In Texas As Gulf Coast Premiums Hit Record Highs

According to retail fuel supplier Mansfield Oil, short-term fuel supplies for Houston and San Antonio are significantly impacted by Tropical Storm Harvey. Bloomberg reports that San Antonio and Houston supplies are at code red, while Corpus Christi was downgraded to code orange as terminals have come online already and limited spot supplies are available. For […]

Gasoline Spikes To 7-Month Highs After Harvey; Heating Oil, Crude Jump

The entire energy futures complex is notably higher at the open with RBOB Gasoline spiking over 4% to its highest since January amid the carnage of Hurricane Harvey. Bloomberg reports that as a result of Harvey, which was the strongest storm to hit the U.S. since 2004, some 2.26MM b/d of crude, condensate refining capacity […]

Inside The “Wildest Commodity Trade” Ever… Just Don’t Blink

Besides the hilariously fabricated economic data and the whole central planning bit – both of which are now everywhere these days – the one most notable feature about China’s economy and capital markets are the constantly rolling, bursting and resurrecting asset bubbles: from housing, to stocks, to bonds, to commodities, to cryptocurrencies, to pretty much […]