tag:blogger.com,1999:blog-26323570359304577542026-11-01T09:24:59.196+01:00Correlation EconomicsDedicated to monitoring breaking global economic news on a day to day basiskatchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.comBlogger2737125tag:blogger.com,1999:blog-2632357035930457754.post-47352245173168347402026-11-01T09:21:18.819+01:002026-11-01T09:24:59.196+01:00Comparative inventory crude oilComparative inventory is the inventory compared to the 5 year average and it's down. Oil should be up.<div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBbrq4nEuAQdqUvDAleqfWxWIm0rs1Z_oE9o4vCCc1DcpNIDk7UKDbmU-iv8uxwVMqqpX5EU7CKzLWCuofu_U1gawP9duD1lG6N8TFElk02wY9d2xl_l_WfZEtmDrQltWK2HvOhHkoYIQmLxfgocNRmnWgi2mabNLukHFwSc6DRV6NfijyRW9jPF1iGY8/s1063/IMG_8311.jpeg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="868" data-original-width="1063" height="326" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBbrq4nEuAQdqUvDAleqfWxWIm0rs1Z_oE9o4vCCc1DcpNIDk7UKDbmU-iv8uxwVMqqpX5EU7CKzLWCuofu_U1gawP9duD1lG6N8TFElk02wY9d2xl_l_WfZEtmDrQltWK2HvOhHkoYIQmLxfgocNRmnWgi2mabNLukHFwSc6DRV6NfijyRW9jPF1iGY8/w400-h326/IMG_8311.jpeg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSbWobx6jJonSJwHgMLSYpNeF_VSZpbkXiRTQ7MldjNVt1QfRLFU2VyKEL4bU8qk98QP_7Ab8o7Tye70btIvSvvXhYnxqqshfTYsADPLPbPOUG7eXm-jOmHKL52ETqTI9YrBkjT5VmcFInXpoixogr_cgRp9i_ZRhZIwp5HGVG01Ay4xsr5Q5Ptl_mlok/s1286/IMG_8312.jpeg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1062" data-original-width="1286" height="330" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSbWobx6jJonSJwHgMLSYpNeF_VSZpbkXiRTQ7MldjNVt1QfRLFU2VyKEL4bU8qk98QP_7Ab8o7Tye70btIvSvvXhYnxqqshfTYsADPLPbPOUG7eXm-jOmHKL52ETqTI9YrBkjT5VmcFInXpoixogr_cgRp9i_ZRhZIwp5HGVG01Ay4xsr5Q5Ptl_mlok/w400-h330/IMG_8312.jpeg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEI1OnLbHSCrwD5oRmVhdjMdCmU45ZpZcWdumVdKngqKHekt6g2OanR0vG1OO3l6gBUQh7Z-rn4EPxVzc8JTfKfmB3tYo0HirQ2fArxz4ft4TaJF-7IL6vNJRK75C0-adBZZqMRciTyULo7AEETX43KT8qpujNRFwoxwu-rOlt_qP5uBBFfM5DDpXHBkg/s684/IMG_8313.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="496" data-original-width="684" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEI1OnLbHSCrwD5oRmVhdjMdCmU45ZpZcWdumVdKngqKHekt6g2OanR0vG1OO3l6gBUQh7Z-rn4EPxVzc8JTfKfmB3tYo0HirQ2fArxz4ft4TaJF-7IL6vNJRK75C0-adBZZqMRciTyULo7AEETX43KT8qpujNRFwoxwu-rOlt_qP5uBBFfM5DDpXHBkg/w400-h290/IMG_8313.png" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div><br /></div></div>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-67078725486462532392026-10-28T21:44:26.045+01:002026-10-28T21:44:26.046+01:00JKM-TTF Vs. TTF Gas Price<p>There is a positive correlation between JKM-TTF vs price. This is because Asia is the major actor in the price setting mechanism.<br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn6byf7RZ1LPrzPU7Dz9pikoxNJh9xbRWtrfgyFpuRPjXfv9MQfiLB22ztiMID1VtUom8-aT5TEzTtyrUVQxsYNfoTs_fNXIZh_keGVzRBaa17nLZkdOgCgvDm_gSnNF84iM6fVgDA0P7tDhpuUTF9nTKyOG8y4Uys0xsrnUgvzavIFjp3MfiNnkgauM0/s3114/IMG_8293.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1384" data-original-width="3114" height="178" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgn6byf7RZ1LPrzPU7Dz9pikoxNJh9xbRWtrfgyFpuRPjXfv9MQfiLB22ztiMID1VtUom8-aT5TEzTtyrUVQxsYNfoTs_fNXIZh_keGVzRBaa17nLZkdOgCgvDm_gSnNF84iM6fVgDA0P7tDhpuUTF9nTKyOG8y4Uys0xsrnUgvzavIFjp3MfiNnkgauM0/w400-h178/IMG_8293.jpeg" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-26518289626289749202026-10-28T14:30:39.783+01:002026-10-28T14:35:39.018+01:00TTF gas fill level<p>Not looking good for fill levels TTF gas. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnld2VJu9qQAC4EnWjuSL_eiUh1Btrll-4T3CjptReM2BqUL_PlrXA2DxR42R4BexHBxb7jcrB4dG0xxzZp7T-MLL3iz2N5PzRFSR-ZcjkviLXI4lcEKEbNMdYSFwObyUe1tDKJy-_oOV1nW-L7u05YCLp7ZK9yAH8gErwsrFSQ9wYlnixLr4EHCiai-M/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="675" data-original-width="1234" height="219" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnld2VJu9qQAC4EnWjuSL_eiUh1Btrll-4T3CjptReM2BqUL_PlrXA2DxR42R4BexHBxb7jcrB4dG0xxzZp7T-MLL3iz2N5PzRFSR-ZcjkviLXI4lcEKEbNMdYSFwObyUe1tDKJy-_oOV1nW-L7u05YCLp7ZK9yAH8gErwsrFSQ9wYlnixLr4EHCiai-M/w400-h219/image.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaiQTEQpjMcuNJEzqR19Od1lVrsWaiskM6yaiel67lI9sEByfBw42lNRpP6HSrnzFHCI7SpvR_teghLYDUQH-KReb5r9RlhA0zLW-dGJP0IXAriahq-WlGUlhIP2fqCsfv5O59s__k5fBYhFfDp1LO9NfRiZ0hDF2oYER8MfVeY2VHS_yqm67VzLq9tgA/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="676" data-original-width="1234" height="219" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaiQTEQpjMcuNJEzqR19Od1lVrsWaiskM6yaiel67lI9sEByfBw42lNRpP6HSrnzFHCI7SpvR_teghLYDUQH-KReb5r9RlhA0zLW-dGJP0IXAriahq-WlGUlhIP2fqCsfv5O59s__k5fBYhFfDp1LO9NfRiZ0hDF2oYER8MfVeY2VHS_yqm67VzLq9tgA/w400-h219/image.png" width="400" /></a></div><br /><br /></div><br /><br /><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-12222938103548268212026-10-22T12:29:02.596+02:002026-10-23T11:58:40.080+02:00TTF Gas and Brent Positioning<p>TTF gas positioning is bullish. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2EHcE_kcmBNZc-6FuIC5SZNzrd8-thpMDnOYKBpIvqUVNI0H2xf4pnwKXq1u7v0Oq6g4fECscg4dHsR_I3an3z5fTiZa_JKjaKOFKVuE8qypXfKw4LeVNm0p9gJSJvjZVjpyMEU-svN5ed2pxpBGRcU-Z-tDu_iJ4FApzG_pkgczs1CSAxYdZck99r2g/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="802" data-original-width="711" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2EHcE_kcmBNZc-6FuIC5SZNzrd8-thpMDnOYKBpIvqUVNI0H2xf4pnwKXq1u7v0Oq6g4fECscg4dHsR_I3an3z5fTiZa_JKjaKOFKVuE8qypXfKw4LeVNm0p9gJSJvjZVjpyMEU-svN5ed2pxpBGRcU-Z-tDu_iJ4FApzG_pkgczs1CSAxYdZck99r2g/w355-h400/image.png" width="355" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_b7JKAJ3nlqdjb7lQsS5z5Zr-b2CLi9k3D_ZSQ48fDirYv9QQkWPVO7idkZ0IALZ5NPus5G0d3QhhsiQNiH2J3-zSR3OJThzJIbxGL5u0dkVRQgvcNIN8sSV_MmKAuFcOt5nq0BSzDWntXrFnifr34SsMVeB9p6M-_YA2EhYvDmcfYrmQeClsXpcuAW8/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="837" data-original-width="752" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_b7JKAJ3nlqdjb7lQsS5z5Zr-b2CLi9k3D_ZSQ48fDirYv9QQkWPVO7idkZ0IALZ5NPus5G0d3QhhsiQNiH2J3-zSR3OJThzJIbxGL5u0dkVRQgvcNIN8sSV_MmKAuFcOt5nq0BSzDWntXrFnifr34SsMVeB9p6M-_YA2EhYvDmcfYrmQeClsXpcuAW8/w360-h400/image.png" width="360" /></a></div><br /></div><div class="separator" style="clear: both; text-align: left;">Brent positioning is bullish.</div><div class="separator" style="clear: both; text-align: left;"><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh630WDGnLgDj0pJtcQRDttIenUkiplm5A5CvVEd1p2PveBWxgBH_Q6H3HWJi3rixc2t5dFKBkOMfzeryLz7BVVU4OKYSkwUx-hRJ7n7zXBGcwC4Su5GWyHKq9sMYRgkTijtdDaK8RKOhtTZGJX18JqdhkBQmauVA_6pwjXqwHEZlNI6Gxp1_0T7nIrYyI/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="895" data-original-width="1150" height="312" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh630WDGnLgDj0pJtcQRDttIenUkiplm5A5CvVEd1p2PveBWxgBH_Q6H3HWJi3rixc2t5dFKBkOMfzeryLz7BVVU4OKYSkwUx-hRJ7n7zXBGcwC4Su5GWyHKq9sMYRgkTijtdDaK8RKOhtTZGJX18JqdhkBQmauVA_6pwjXqwHEZlNI6Gxp1_0T7nIrYyI/w400-h312/image.png" width="400" /></a></div><br /><br /></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-59851053371365719602026-10-22T09:21:39.119+02:002026-10-22T09:21:39.119+02:00Comparable oil inventory<p>Inventories are drawing down. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbgqRTPgR_FEU7n2qYAIhn8TAW-VMlGc-E_x2d237p5Vez25ICj-fecBznVhEOyy1ZchllA-lWu1eHh1yj-yI6b9QDo1gK_2LFoS8jYYXBd7-xsdmTHtNf4OrptaaD8Vbmdj-Kw26Dknij0HjxHJhfJeH0jzzydWo0dJiKHrY0-Vku9piUc0PAq-Z8Tz8/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="496" data-original-width="684" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbgqRTPgR_FEU7n2qYAIhn8TAW-VMlGc-E_x2d237p5Vez25ICj-fecBznVhEOyy1ZchllA-lWu1eHh1yj-yI6b9QDo1gK_2LFoS8jYYXBd7-xsdmTHtNf4OrptaaD8Vbmdj-Kw26Dknij0HjxHJhfJeH0jzzydWo0dJiKHrY0-Vku9piUc0PAq-Z8Tz8/w400-h290/image.png" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-16626139738665925002026-10-19T00:59:11.113+02:002026-10-24T00:22:52.116+02:00China stockpiling oilChina has started <a href="https://x.com/LSREnergy/status/2110210602027094480?s=20">stockpiling</a> crude oil at $100 oil.<div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUKNTMp8kaFLPqU51BNhD7cgIDv1WGZ2A7bCtuEoVCzY8WidneBChOUKzEK_TjT2cc2CO_dnBc5AD-U-GtKBdmCa9yfNwDpgy_KGkgBXgOzocE5F-3om3piHKQv4Drq8fqmkkpTqywXMSNnICrnLVFIjeCF_HQVu9iVSB3kiuQ5BrWAvLY7-8i27EQIs4/s874/IMG_8265.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="412" data-original-width="874" height="189" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUKNTMp8kaFLPqU51BNhD7cgIDv1WGZ2A7bCtuEoVCzY8WidneBChOUKzEK_TjT2cc2CO_dnBc5AD-U-GtKBdmCa9yfNwDpgy_KGkgBXgOzocE5F-3om3piHKQv4Drq8fqmkkpTqywXMSNnICrnLVFIjeCF_HQVu9iVSB3kiuQ5BrWAvLY7-8i27EQIs4/w400-h189/IMG_8265.png" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmxPuGTNJvbNevIkIc7Dq2NvpBQMFH-Hg2OuSwq9PntOL7eeDhtSwDVJmPhSc9ZM9YUXgJHoBy2ELITHVhUYxFBH70ATvcVUCO6xDeAGfUtDlzQ3CSuM3KBtFSSCIkNATF9J15f6Ak30TEYBGOiVKrT3NoYDx1-fuxdWAyAOFrFxb-8OragpApuTLicUI/s832/IMG_8266.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="832" data-original-width="568" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgmxPuGTNJvbNevIkIc7Dq2NvpBQMFH-Hg2OuSwq9PntOL7eeDhtSwDVJmPhSc9ZM9YUXgJHoBy2ELITHVhUYxFBH70ATvcVUCO6xDeAGfUtDlzQ3CSuM3KBtFSSCIkNATF9J15f6Ak30TEYBGOiVKrT3NoYDx1-fuxdWAyAOFrFxb-8OragpApuTLicUI/w273-h400/IMG_8266.png" width="273" /></a></div><div><br /></div>But not refining that much.</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiX7snncyTEsO1Y-G45kR5ZZc4b5Sg-IQU2JFOuOEwCXr5X9zJ-JLMRTQz4eVRV33bp_oVIPpQJNUFcXqtk_mDvBBHom5mpXt7-FqZBx_4W6aVvgMpLHLVyn2EEIz_MnSaoRMhgOjkSeIgARb5Rx3bvhDMq7IIKdeNpv0WyWnki7NJ9G3BrO-rjdlYcQNQ/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="761" data-original-width="633" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiX7snncyTEsO1Y-G45kR5ZZc4b5Sg-IQU2JFOuOEwCXr5X9zJ-JLMRTQz4eVRV33bp_oVIPpQJNUFcXqtk_mDvBBHom5mpXt7-FqZBx_4W6aVvgMpLHLVyn2EEIz_MnSaoRMhgOjkSeIgARb5Rx3bvhDMq7IIKdeNpv0WyWnki7NJ9G3BrO-rjdlYcQNQ/w333-h400/image.png" width="333" /></a></div><br /><br /><div><br /></div></div>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-88892630550631429992026-10-17T16:54:02.868+02:002026-10-17T16:56:28.387+02:00Oil Inventory<p>These two <a href="https://www.bisoninsights.info/p/this-week-in-oil-2ee">WTI $100/bbl</a> are not the same. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhPdBx948-w4gI0PjkYDnlmCt12hNCNOk1QapjYFzbqPzoh7jRB70d0eQVB1O3EsCs0PVjz_NdgLWJ0Y-ZnM7uQ2XAhJ0SuWS30KU9Q7DY_aRIcvuEii6oWDBWApIkQKa7puZLJKz4ejWXkYHLXvr67KTbEjSPHjQhlOBaGHwFkvTvtmkSIozalBhszCkM/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="661" data-original-width="942" height="281" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhPdBx948-w4gI0PjkYDnlmCt12hNCNOk1QapjYFzbqPzoh7jRB70d0eQVB1O3EsCs0PVjz_NdgLWJ0Y-ZnM7uQ2XAhJ0SuWS30KU9Q7DY_aRIcvuEii6oWDBWApIkQKa7puZLJKz4ejWXkYHLXvr67KTbEjSPHjQhlOBaGHwFkvTvtmkSIozalBhszCkM/w400-h281/image.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDhu_6AtCJpYhPT_qY2xcbgHM3zm5I8QYdTvZ8-N1di-wyTClykh9-Z9oy98yxQecRluJl1eQ7bjawN8Cxo81PhK2xUuS0ydsknzcrJleWr5hcAkfSJiwHiFFf3yt28RbWMhiPvMP9eFtFCpCXVxMmTzY9uaGlFcPvPaQ-znWEuN7Rlaf8mcRSQK9O2Sw/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="507" data-original-width="1055" height="193" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDhu_6AtCJpYhPT_qY2xcbgHM3zm5I8QYdTvZ8-N1di-wyTClykh9-Z9oy98yxQecRluJl1eQ7bjawN8Cxo81PhK2xUuS0ydsknzcrJleWr5hcAkfSJiwHiFFf3yt28RbWMhiPvMP9eFtFCpCXVxMmTzY9uaGlFcPvPaQ-znWEuN7Rlaf8mcRSQK9O2Sw/w400-h193/image.png" width="400" /></a></div><br /><br /></div><br /><br /><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-13485546781322052592026-10-15T14:37:53.691+02:002026-10-15T14:37:53.692+02:00Yardeni SP500 Outlook<p>New:</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDJXLE1epR9blP05tEBsJevrGgfuRCh6b2f1y9m5HgyAeotNME04cpO3oMYyjNfj-zK0To2X9tsjr5JJM7SfQK8cP4cBvi_Iq0RS4T8r-P3LS9qMy-ugJW2VkOgESE2kbrL5bZ2q7eycxTjX81PaApE_VVKA46ZXlrEKX56OP-YQah4KRBWbhgK-J4zNY/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="712" data-original-width="1257" height="226" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDJXLE1epR9blP05tEBsJevrGgfuRCh6b2f1y9m5HgyAeotNME04cpO3oMYyjNfj-zK0To2X9tsjr5JJM7SfQK8cP4cBvi_Iq0RS4T8r-P3LS9qMy-ugJW2VkOgESE2kbrL5bZ2q7eycxTjX81PaApE_VVKA46ZXlrEKX56OP-YQah4KRBWbhgK-J4zNY/w400-h226/image.png" width="400" /></a></div><p></p><p>Old:</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkSfpr6zuzEGhna_SaYxDVTdycVSWyGSsusNpf-ReIoUUxOOPCZWIDlFHQ68_ta-cbH-5zbKbhWJ-W0D5zjVxTmizXSXe-12BzA4sRGpmJwb4DfoeRZew2VsBPlAZvgrTYrL_fC2nc4uOhUjuNn1-Vx3W58OuMi5S3oOwQUxmfD6W9TO8v3PNsgPdmGJc/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="662" data-original-width="1182" height="179" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkSfpr6zuzEGhna_SaYxDVTdycVSWyGSsusNpf-ReIoUUxOOPCZWIDlFHQ68_ta-cbH-5zbKbhWJ-W0D5zjVxTmizXSXe-12BzA4sRGpmJwb4DfoeRZew2VsBPlAZvgrTYrL_fC2nc4uOhUjuNn1-Vx3W58OuMi5S3oOwQUxmfD6W9TO8v3PNsgPdmGJc/s1600/image.png" width="320" /></a></div><br /><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-48898087613316859142026-10-15T11:18:43.564+02:002026-10-15T11:21:59.140+02:00Global onshore crude oil inventory<p><a href="https://www.hfir.com/p/public-brent-crude-oil-positioning">Oil</a> is going higher. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx1byiPx8FSGyAbeWqCODnClCpy-XafClv3oYex5Rm6fUnLBKq28bZcbT8DDZBDdVMagH0qekodw5pN3m6V5m1zjnjjsahJ1YXEh6CW2IWryJvYQopWHexo3T6It7Se-L7I5HXcP_1PV49d3zd5ATelbIa7WDDmakcnmXFFktSTM6dbkzOrFKYVHuOvIs/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="878" data-original-width="1456" height="241" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx1byiPx8FSGyAbeWqCODnClCpy-XafClv3oYex5Rm6fUnLBKq28bZcbT8DDZBDdVMagH0qekodw5pN3m6V5m1zjnjjsahJ1YXEh6CW2IWryJvYQopWHexo3T6It7Se-L7I5HXcP_1PV49d3zd5ATelbIa7WDDmakcnmXFFktSTM6dbkzOrFKYVHuOvIs/w400-h241/image.png" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-89795454815263443922026-10-07T21:46:35.433+02:002026-10-07T21:46:35.433+02:00China Holiday: Golden Week<p>China'll be back! </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjty2b-J7E4gPfPd9TVocLcPeZ-lzAAxBaqS-ggXWX3r6qAfSqkCWBDviqGJc_hYELWJ3KDvaQjjSHqMnE0RrADIN6EDROr7ABR0yh5SxPHipxzZH2xSOPx8tLb19wEuc5Ph5ghL7AqFydQa8fvwsdC4SyYfxVqeXIYnItSk3jLLqciHICAQS_NPG-OkLo/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="2000" data-original-width="511" height="1606" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjty2b-J7E4gPfPd9TVocLcPeZ-lzAAxBaqS-ggXWX3r6qAfSqkCWBDviqGJc_hYELWJ3KDvaQjjSHqMnE0RrADIN6EDROr7ABR0yh5SxPHipxzZH2xSOPx8tLb19wEuc5Ph5ghL7AqFydQa8fvwsdC4SyYfxVqeXIYnItSk3jLLqciHICAQS_NPG-OkLo/w409-h1606/image.png" width="409" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-73522578495572772702026-10-07T13:05:55.753+02:002026-10-07T13:05:55.753+02:00COFER: USD allocation drops<p>USD dropped a bit. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibND3SXWQ_IHtjpJW2fPg2DNexWWtoLALHIY0IQ3eXi7mUco98jnWQcI23mV9lEAM3S3efeJaWkR7A_fnYVC9Os3yk7AWTHQLmRwQA5BQcbIgWfhdVQ2ft-qUAjE-s1uSTKIWNUd3gn_mNlTBabnPMxrJmRg5xra3EMtga_szaiBZeHmsRCtnDESx-Cx8/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="863" data-original-width="1413" height="244" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibND3SXWQ_IHtjpJW2fPg2DNexWWtoLALHIY0IQ3eXi7mUco98jnWQcI23mV9lEAM3S3efeJaWkR7A_fnYVC9Os3yk7AWTHQLmRwQA5BQcbIgWfhdVQ2ft-qUAjE-s1uSTKIWNUd3gn_mNlTBabnPMxrJmRg5xra3EMtga_szaiBZeHmsRCtnDESx-Cx8/w400-h244/image.png" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-33810068150719150662026-09-29T15:55:44.764+02:002026-09-29T15:55:44.764+02:00Deutsche Bank Copper Target<p>Deutsche Bank expects copper to rise to $10/lb. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg0Dv5cKBa92UcF54WY1MedoGi8fpQtxP0CV7ai7wbt5P0n2QlDKrP4i5xOCaH3rqaJy8AYCy19z0kIypQ5XEICB3ZzqRL7ySGzWrxZLtkoCTGZRvHH6MMQ4AQGZ0ZXG-A63xoJJmU1UUZM-l_kVhsbyldqmS6jU2ei9GkkSMrZI8W0jYXqJXhDhryJodo" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="493" data-original-width="626" height="315" src="https://blogger.googleusercontent.com/img/a/AVvXsEg0Dv5cKBa92UcF54WY1MedoGi8fpQtxP0CV7ai7wbt5P0n2QlDKrP4i5xOCaH3rqaJy8AYCy19z0kIypQ5XEICB3ZzqRL7ySGzWrxZLtkoCTGZRvHH6MMQ4AQGZ0ZXG-A63xoJJmU1UUZM-l_kVhsbyldqmS6jU2ei9GkkSMrZI8W0jYXqJXhDhryJodo=w400-h315" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-44557789743508666542026-09-29T09:21:30.981+02:002026-09-29T09:21:30.981+02:00Yield Curve Vs. GDP Growth<p>The <a href="https://www.clevelandfed.org/indicators-and-data/yield-curve-and-predicted-gdp-growth">yield curve</a> is a leading indicator for GDP growth. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgl-FowyQjof72Y6V7c5k_tAwszMpvmI4aDAdaQdEyN44Yi-ClY0H7ptUWtlvzU2a2UBvqPg3G2YVk2HB8AxhkQc9TVJuYp_BHxHf_pdSlxNSWSJb4Ar2660J_ft4ZyelonlS49EQCGnEeQo4yn5OqvxWDgF-zmYrFVAd0-L-MDmG326bUDNyGAJih8tQ0" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="617" data-original-width="1167" height="211" src="https://blogger.googleusercontent.com/img/a/AVvXsEgl-FowyQjof72Y6V7c5k_tAwszMpvmI4aDAdaQdEyN44Yi-ClY0H7ptUWtlvzU2a2UBvqPg3G2YVk2HB8AxhkQc9TVJuYp_BHxHf_pdSlxNSWSJb4Ar2660J_ft4ZyelonlS49EQCGnEeQo4yn5OqvxWDgF-zmYrFVAd0-L-MDmG326bUDNyGAJih8tQ0=w400-h211" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-57876951780808661202026-09-28T12:19:11.362+02:002026-09-28T12:19:11.362+02:00Gold Vs. Oil<p></p><div class="separator" style="clear: both; text-align: left;">Gold front runs oil.</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEikaS7eW3TkGhWTznGFVJEWqqV6UW_BoIoZ70tZg3Uz-pfcErUDnzCYEwVBBF9t-nLjY7hBDwAlvbmHISD0aObsQ3GeCfKknVhuOtouw428Kg0pO1SI1m2xG2C94GKu6Jgh9GtlbZk1m7gESIW8GZj5RT6et-iaHCpNKVQZJAulQ5do-ltH7Z-y1ojdacs" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="364" data-original-width="698" height="209" src="https://blogger.googleusercontent.com/img/a/AVvXsEikaS7eW3TkGhWTznGFVJEWqqV6UW_BoIoZ70tZg3Uz-pfcErUDnzCYEwVBBF9t-nLjY7hBDwAlvbmHISD0aObsQ3GeCfKknVhuOtouw428Kg0pO1SI1m2xG2C94GKu6Jgh9GtlbZk1m7gESIW8GZj5RT6et-iaHCpNKVQZJAulQ5do-ltH7Z-y1ojdacs=w400-h209" width="400" /></a></div><br /><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-68182647707965992752026-09-23T18:18:54.520+02:002026-10-15T11:19:19.873+02:00Onshore oil inventories Vs. Brent Oil<p>There is a correlation between onshore oil inventories and Brent oil. </p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9DSLF5qgFA237UI2ypHBw5suaR0hefnlYbvYXoJeXSEKsDyMiz6XeaDCKGIAGWNIAjSBcmhaEwnALhnqTKjz6Z2guhSkf4EcSnkXCHzNxISnVneX5x1451VjiPT8Ln3teGja5OnTiVp8eV1ZjcYHGdKsp7IHXUO-0tpiuEJ25A_L_fDZp-VKR0cMp5I8/s1600/image.png" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="878" data-original-width="1456" height="241" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9DSLF5qgFA237UI2ypHBw5suaR0hefnlYbvYXoJeXSEKsDyMiz6XeaDCKGIAGWNIAjSBcmhaEwnALhnqTKjz6Z2guhSkf4EcSnkXCHzNxISnVneX5x1451VjiPT8Ln3teGja5OnTiVp8eV1ZjcYHGdKsp7IHXUO-0tpiuEJ25A_L_fDZp-VKR0cMp5I8/w400-h241/image.png" width="400" /></a></div><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgyrpN2rbPy1JWxespJLqgkl2jUMp-ZUEXv_89WRPGzYbPUl3ig4zlgidsfBGLFcQL0vOIiHgjqCwLag4BQ8g8MitzoUjZwOYyCOI1hswV4-Gv11AmuVJWUaEP_BHL5d7b3KjQwmeJT89aDNP9CPvmYgz7vMoZ79dkzow5V2NLDdL587BiBhaCsftPYXOw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="1127" data-original-width="1456" height="310" src="https://blogger.googleusercontent.com/img/a/AVvXsEgyrpN2rbPy1JWxespJLqgkl2jUMp-ZUEXv_89WRPGzYbPUl3ig4zlgidsfBGLFcQL0vOIiHgjqCwLag4BQ8g8MitzoUjZwOYyCOI1hswV4-Gv11AmuVJWUaEP_BHL5d7b3KjQwmeJT89aDNP9CPvmYgz7vMoZ79dkzow5V2NLDdL587BiBhaCsftPYXOw=w400-h310" width="400" /></a></div><br /><br /></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-78891557677572036992026-09-21T18:32:43.790+02:002026-09-21T18:32:43.790+02:00Break even shale oil<p>Breakeven shale oil around $60/bbl.<br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGXGn6qdvAiPOy-oNabhsCpmOTrUY0AcMaXRg8P9a3am3PUpO4sczQK5qlwBnL7bzdHBSmKpA2ue-BeMhdAzr7DJJ7HzfYsQdTgoaEsgzGifROqZuEePfkud4Ox4QebaL4tJh7jigh4Oug5TsRJJ6BEfMVoPnDfZRn09No5ArnzP0eDOazGSUmcKx5JDs/s1099/IMG_8090.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1030" data-original-width="1099" height="375" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGXGn6qdvAiPOy-oNabhsCpmOTrUY0AcMaXRg8P9a3am3PUpO4sczQK5qlwBnL7bzdHBSmKpA2ue-BeMhdAzr7DJJ7HzfYsQdTgoaEsgzGifROqZuEePfkud4Ox4QebaL4tJh7jigh4Oug5TsRJJ6BEfMVoPnDfZRn09No5ArnzP0eDOazGSUmcKx5JDs/w400-h375/IMG_8090.jpeg" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-54053160582547310062026-09-18T16:26:10.253+02:002026-09-18T16:26:10.254+02:00The Urals Oil Premium<p> The Urals Oil premium. </p><p>- During periods of positive Urals oil premium, the oil price goes up. </p><p>- During periods of negative Urals oil premium, the oil price goes down.</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg80N10hh3CHj61jxMAz4Ni0-3RHex5DPy8XMOiBcc0CbzfP2aL0kJ3m4ylYU3StGeXZtHDpLjMoX-9b7A0K0vLSZECA4k1EVeR-mFkHcGQTIc3qtjtJ629o4HierMJjXOQx6C3j9ShYI7AcqCerEfdOGCCakbmHNty-6G8uw37ZgBvmH27tPGVNNhMYc4" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="572" data-original-width="1130" height="203" src="https://blogger.googleusercontent.com/img/a/AVvXsEg80N10hh3CHj61jxMAz4Ni0-3RHex5DPy8XMOiBcc0CbzfP2aL0kJ3m4ylYU3StGeXZtHDpLjMoX-9b7A0K0vLSZECA4k1EVeR-mFkHcGQTIc3qtjtJ629o4HierMJjXOQx6C3j9ShYI7AcqCerEfdOGCCakbmHNty-6G8uw37ZgBvmH27tPGVNNhMYc4=w400-h203" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-70593646569575882282026-09-17T23:16:38.130+02:002026-09-17T23:16:38.130+02:00Crude Oil Vs. Diesel Oil<p>Crude oil should be at $180/bbl. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjK71dCbKjuH-zXVJPUq_BlDjTyKLbS7tgdBVD6JbQ4wWnPP0rk_qzk4Ca8xN9gF9VVqZbe7OPte7qN-bnIjfGphXo4daynR53kpN3hJ3dOwdy4oy4UbtZqhwHqrfTUKfj9pl0CBcUSRxtvEwyfeCdnm7WtwCn8_IUh6OlaKQf0PRDqE7I6hwTjhGAtuqM" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="540" data-original-width="1169" height="185" src="https://blogger.googleusercontent.com/img/a/AVvXsEjK71dCbKjuH-zXVJPUq_BlDjTyKLbS7tgdBVD6JbQ4wWnPP0rk_qzk4Ca8xN9gF9VVqZbe7OPte7qN-bnIjfGphXo4daynR53kpN3hJ3dOwdy4oy4UbtZqhwHqrfTUKfj9pl0CBcUSRxtvEwyfeCdnm7WtwCn8_IUh6OlaKQf0PRDqE7I6hwTjhGAtuqM=w400-h185" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-12780320631956626042026-09-16T20:02:03.462+02:002026-09-16T20:02:03.462+02:00Dot Plot<p> Previous:</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjUttd-vuCRLOfXRmeaSqwyo_xJqMid66UrGUv_J7yGJxl4LuI2YE_N218jQvN-3pvInGQrmHs33bQ51tz_chYtst7LYbtxM2l-_JOtZsLSbIK1FaoYO9hHzzJ42_iiHw0a2lQlHgGOmkDqc3Xqfhgz0caWxWnMbIVuYwX8qSVTu4qVxHRd2VPP1v351Rk" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="647" data-original-width="757" height="342" src="https://blogger.googleusercontent.com/img/a/AVvXsEjUttd-vuCRLOfXRmeaSqwyo_xJqMid66UrGUv_J7yGJxl4LuI2YE_N218jQvN-3pvInGQrmHs33bQ51tz_chYtst7LYbtxM2l-_JOtZsLSbIK1FaoYO9hHzzJ42_iiHw0a2lQlHgGOmkDqc3Xqfhgz0caWxWnMbIVuYwX8qSVTu4qVxHRd2VPP1v351Rk=w400-h342" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;">Now:</div><div class="separator" style="clear: both; text-align: left;"><br /></div><div class="separator" style="clear: both; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEi6qblpni-SJOCnTZgsE2jj-dMPklgawzmPE67kbTlFiAuSiAK0dhAa-nL2GXjwrXZ9DCB2KI_V3veoVEbpscZRiekE0Yd6zzp50M18SsF-5dWkF5J15RmodmmX2WkaCh_eJr7_e5VuvLxwc93GK3G96HIV0NIW0oEkHDDb9MVdBhIyayRUBS4PJtXHSnk" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="636" data-original-width="772" height="330" src="https://blogger.googleusercontent.com/img/a/AVvXsEi6qblpni-SJOCnTZgsE2jj-dMPklgawzmPE67kbTlFiAuSiAK0dhAa-nL2GXjwrXZ9DCB2KI_V3veoVEbpscZRiekE0Yd6zzp50M18SsF-5dWkF5J15RmodmmX2WkaCh_eJr7_e5VuvLxwc93GK3G96HIV0NIW0oEkHDDb9MVdBhIyayRUBS4PJtXHSnk=w400-h330" width="400" /></a></div><br /><br /></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-3530453303371420082026-09-15T15:03:10.037+02:002026-09-15T19:19:29.490+02:00Shanghai oil price<p>China needs oil. </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjgClLDD4pZJXnDVa58q7VOY3MbFVulLcLBTudyVl-Yz_6W0tqRbKurpmdECco0opsW6UZEBRaZBCg8bxchk20kvEjOeR8_JXdyuULxlW-MfejoIDw6Zak56fqay5x5ryBs-by024HtcqgdPPcgZoVZJrihx_Baw_ey2Qb1A6osDAsiY9vADXXQibnxEnI" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="633" data-original-width="1065" height="238" src="https://blogger.googleusercontent.com/img/a/AVvXsEjgClLDD4pZJXnDVa58q7VOY3MbFVulLcLBTudyVl-Yz_6W0tqRbKurpmdECco0opsW6UZEBRaZBCg8bxchk20kvEjOeR8_JXdyuULxlW-MfejoIDw6Zak56fqay5x5ryBs-by024HtcqgdPPcgZoVZJrihx_Baw_ey2Qb1A6osDAsiY9vADXXQibnxEnI=w400-h238" width="400" /></a></div><br /><p></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg_sLGFelWoSyktTbJr2QSuKDQkB9SbYA6yMqH_qK770Eq1m2rkSAazQW-rdQl3U_QkK11gEYcqbeLxJidWurUhm3YW6UGNvwUl-tTWkvoNFG2hwHRyIvGu7W8PZiQAnRXZwLiDjTLvYpHDYlPJV0OBfBMJ8Ggq2AVteW74-dFlJNVNyt1lNAR_6duSN-g" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="747" data-original-width="1313" height="228" src="https://blogger.googleusercontent.com/img/a/AVvXsEg_sLGFelWoSyktTbJr2QSuKDQkB9SbYA6yMqH_qK770Eq1m2rkSAazQW-rdQl3U_QkK11gEYcqbeLxJidWurUhm3YW6UGNvwUl-tTWkvoNFG2hwHRyIvGu7W8PZiQAnRXZwLiDjTLvYpHDYlPJV0OBfBMJ8Ggq2AVteW74-dFlJNVNyt1lNAR_6duSN-g=w400-h228" width="400" /></a></div><div><br /></div>But not heating oil.<br /><p></p><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgKZZfDi6wuC1PB30T4hydRNAhTd0-PiysVRE-JK2OgwYgzL-vGcgjlE4jSjOWHBMYVs10587K5GFuaY7-e2sDj6ja28pFnnmxzXwX5FzLFJnxqA1ohAQ32vtGMzbNNozdqGmizftjAyf8qS-u6pdGbBdf3MLvWxpBlX-y-EyKpmUuCNxjA9rq2nxVLUz4" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="741" data-original-width="752" height="393" src="https://blogger.googleusercontent.com/img/a/AVvXsEgKZZfDi6wuC1PB30T4hydRNAhTd0-PiysVRE-JK2OgwYgzL-vGcgjlE4jSjOWHBMYVs10587K5GFuaY7-e2sDj6ja28pFnnmxzXwX5FzLFJnxqA1ohAQ32vtGMzbNNozdqGmizftjAyf8qS-u6pdGbBdf3MLvWxpBlX-y-EyKpmUuCNxjA9rq2nxVLUz4=w400-h393" width="400" /></a></div><br /><br /></div>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-60310677593933486402026-09-10T20:31:51.879+02:002026-09-10T20:32:39.137+02:00The plan<p>This is a chart from the <a href="https://x.com/mb_ghalibaf/status/2098088721216078032">minister of Iran</a>. It says that Hormuz is going to close indefinitely and oil will rise to $160/bbl. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhaR6ZXsh_sSLMle8WcY2MVI6A_XbzLT2YgRnsDqY95QQml-Cd4NoKsDdgP8zBabOkOZpL-pdmUWakYVFjsetbKVqKuWc5dxk3slQiFQeGDQrPIQaVQQdIC8dmFzRKU5Tb2t5rtHw2oRiM2K_ZYtUsdPrcLI6Lsjp-PgdpLoHtLm3mVnEFW_Qd10OPQ1x0" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="1172" data-original-width="2048" height="229" src="https://blogger.googleusercontent.com/img/a/AVvXsEhaR6ZXsh_sSLMle8WcY2MVI6A_XbzLT2YgRnsDqY95QQml-Cd4NoKsDdgP8zBabOkOZpL-pdmUWakYVFjsetbKVqKuWc5dxk3slQiFQeGDQrPIQaVQQdIC8dmFzRKU5Tb2t5rtHw2oRiM2K_ZYtUsdPrcLI6Lsjp-PgdpLoHtLm3mVnEFW_Qd10OPQ1x0=w400-h229" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-35548833365785930042026-09-04T18:41:26.639+02:002026-09-04T18:41:26.640+02:00Copper Supply<p>Down </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgaFXHK9wN9eubRQj1zFIRRQibrHG2jJUuUDgHBexnsUyKYgpb-uXEhe60N9mhzIN4_FKjtmpgTPnC316mHPG_-6EQWefDdHdEJfNBNn0nQ4-yxdSiCpXYNhqyrXwZeIEsq2f8-SV6HAGjPMvfq-QOY-Tx25VgKVBR2tvu_Jlaknk9gQ28aqz43PginTBs" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="1001" data-original-width="1594" height="251" src="https://blogger.googleusercontent.com/img/a/AVvXsEgaFXHK9wN9eubRQj1zFIRRQibrHG2jJUuUDgHBexnsUyKYgpb-uXEhe60N9mhzIN4_FKjtmpgTPnC316mHPG_-6EQWefDdHdEJfNBNn0nQ4-yxdSiCpXYNhqyrXwZeIEsq2f8-SV6HAGjPMvfq-QOY-Tx25VgKVBR2tvu_Jlaknk9gQ28aqz43PginTBs=w400-h251" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-49816169436972340152026-09-03T17:38:07.331+02:002026-09-23T18:17:15.722+02:00Hormuz Disrupted<p>Closed again.<br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim0w_mJgdbU5NAzORBfLI0roWYjhDCTpd3d5gnZ4k7OEiS1CdY3i3kwpF8kRpynIFk05dstdbTK8uRxRLMFRE9h-X9vbIDSQp_BjjUKE9ZNUDmhzehxkdXFyEa-XdfulKNPH9dUshV2_KQ_So82MZffqCcHVky9nDszcaaDWF4_6V6-9NBsNdEiaXav0Y/s925/IMG_8045.jpeg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="709" data-original-width="925" height="306" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim0w_mJgdbU5NAzORBfLI0roWYjhDCTpd3d5gnZ4k7OEiS1CdY3i3kwpF8kRpynIFk05dstdbTK8uRxRLMFRE9h-X9vbIDSQp_BjjUKE9ZNUDmhzehxkdXFyEa-XdfulKNPH9dUshV2_KQ_So82MZffqCcHVky9nDszcaaDWF4_6V6-9NBsNdEiaXav0Y/w400-h306/IMG_8045.jpeg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;">However, <a href="https://x.com/LSREnergy/status/2101704844314652746?s=20">actual flows</a> (crude + products) are higher.</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiMXSEny8T1AdMO4bFpunomT6FNGZylhODlkND4K9QatEgd0sG06GyN-pHoOcz3_6C8-cS4oodN_VfwWq_Y_W8_BbUsRmA8nFulr5QeeElo_eU3WR766lt7BLyMTI-nQHF-xemfBKoStSOC3yzpNOYuK5QCcMg6y1uLoqJLoz2KBk_Wjz-jg3ff7PD0AeM" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="380" data-original-width="673" height="226" src="https://blogger.googleusercontent.com/img/a/AVvXsEiMXSEny8T1AdMO4bFpunomT6FNGZylhODlkND4K9QatEgd0sG06GyN-pHoOcz3_6C8-cS4oodN_VfwWq_Y_W8_BbUsRmA8nFulr5QeeElo_eU3WR766lt7BLyMTI-nQHF-xemfBKoStSOC3yzpNOYuK5QCcMg6y1uLoqJLoz2KBk_Wjz-jg3ff7PD0AeM=w400-h226" width="400" /></a></div><div><br /></div>But even with higher flows from the Middle East, inventories are dropping due to China depleting its inventory.<div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgnuAl2SiLjKehWEqaXEGsAcMdbGWz9nvKINjC7s4RoUdLGsHgBmBBx0gVApTbTCsyvndMk2xceARccyfaFp3thflcKebMDS1kA1xNPS401t5fdI5CXpwwafouS8U8bSB4KcP-bH-EAfwIY_SBzBnkShH7rVghLPYglW6z8ImKQGM896sJotfmN2fpM6Q8" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="609" data-original-width="900" height="271" src="https://blogger.googleusercontent.com/img/a/AVvXsEgnuAl2SiLjKehWEqaXEGsAcMdbGWz9nvKINjC7s4RoUdLGsHgBmBBx0gVApTbTCsyvndMk2xceARccyfaFp3thflcKebMDS1kA1xNPS401t5fdI5CXpwwafouS8U8bSB4KcP-bH-EAfwIY_SBzBnkShH7rVghLPYglW6z8ImKQGM896sJotfmN2fpM6Q8=w400-h271" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEimbiDNv6dMGapEqg3PGnJGmerGGKHImCZRJ5eRx6yn9J_7Y32kwSE8_p2wkEuuj7MH37qXWgv6XgXGjtKPe9ncqrbtT3GTaNP1tJXirltcA7WQyHR7Ng86OBBZ4qIOu49c6cM5_QKdUqdKzFxDQqxT-F-VGYUJCpJhww35AlFcvey2PVLyM63WI7D7fFk" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="704" data-original-width="1070" height="264" src="https://blogger.googleusercontent.com/img/a/AVvXsEimbiDNv6dMGapEqg3PGnJGmerGGKHImCZRJ5eRx6yn9J_7Y32kwSE8_p2wkEuuj7MH37qXWgv6XgXGjtKPe9ncqrbtT3GTaNP1tJXirltcA7WQyHR7Ng86OBBZ4qIOu49c6cM5_QKdUqdKzFxDQqxT-F-VGYUJCpJhww35AlFcvey2PVLyM63WI7D7fFk=w400-h264" width="400" /></a></div><div><br /></div>Brent should be going to $120/bbl.<br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgFue8S3amJeKEWJEUt5zCcC2ZjzM5hZ7uL29eMbkSwhxhUohL86ptnJwDuZuMV9KE06uq3ZtJHVi5YYTwptlKzMtj4kBlKC2pHzOOr789FAy6g2-wcFTQKWEKXDXH1P6QK53ThU3fBmtcO1NVIgJzmOVvOfM8NEOigFOnLnZUfjJy_MG7iQYzdTcxXJHw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="1210" data-original-width="2048" height="236" src="https://blogger.googleusercontent.com/img/a/AVvXsEgFue8S3amJeKEWJEUt5zCcC2ZjzM5hZ7uL29eMbkSwhxhUohL86ptnJwDuZuMV9KE06uq3ZtJHVi5YYTwptlKzMtj4kBlKC2pHzOOr789FAy6g2-wcFTQKWEKXDXH1P6QK53ThU3fBmtcO1NVIgJzmOVvOfM8NEOigFOnLnZUfjJy_MG7iQYzdTcxXJHw=w400-h236" width="400" /></a></div><br /><br /><p></p></div>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-85653710895706012932026-08-28T17:08:04.015+02:002026-08-28T17:08:04.015+02:00Singapore Removes 5% Cap On Gold<p><a href="https://www.businesstimes.com.sg/companies-markets/family-offices-cheer-mas-lifting-precious-metals-cap-do-not-expect-gold-rush">Singapore</a> removing cap on gold. Bullish gold. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgUmgh0ALvqDcta8EJQV4r7QjojikCTVxNubMCLE1nYk-Kq54Ev_ndTIRQyyuDgPcw7riD35WQVODzMskJYZUZrkoesy0h0tvxPI9wxAU5qzzqsSqACzIltxHV255gRxMYjK7vq1BKXxogCpuKo7G7pYYMDMxbS_i5yoeX9qe8VUisbvtaTfeUdO5u5gzY" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="532" data-original-width="747" height="285" src="https://blogger.googleusercontent.com/img/a/AVvXsEgUmgh0ALvqDcta8EJQV4r7QjojikCTVxNubMCLE1nYk-Kq54Ev_ndTIRQyyuDgPcw7riD35WQVODzMskJYZUZrkoesy0h0tvxPI9wxAU5qzzqsSqACzIltxHV255gRxMYjK7vq1BKXxogCpuKo7G7pYYMDMxbS_i5yoeX9qe8VUisbvtaTfeUdO5u5gzY=w400-h285" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0tag:blogger.com,1999:blog-2632357035930457754.post-12223005372725788112026-08-19T16:01:44.363+02:002026-08-19T16:01:44.364+02:00QE doubled<p>They are upping the QE. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEguVWvQLEBsNImkErrjSrlFVAg_WtunH-Oup5xl_JRRDGKeT7H3x4Fe_OlTPnK56kBfKmxSLQUjTdaC1OSz5BJnSZJfqI7NvwNyBPQZHqwQgzs3s92tg1XQFporJGIB8IsbkLFx7grggxV9jqGy0GeqPT58EgN53qelb-p6cebdTNTYxQOtBiO15Shcff0" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="130" data-original-width="561" height="93" src="https://blogger.googleusercontent.com/img/a/AVvXsEguVWvQLEBsNImkErrjSrlFVAg_WtunH-Oup5xl_JRRDGKeT7H3x4Fe_OlTPnK56kBfKmxSLQUjTdaC1OSz5BJnSZJfqI7NvwNyBPQZHqwQgzs3s92tg1XQFporJGIB8IsbkLFx7grggxV9jqGy0GeqPT58EgN53qelb-p6cebdTNTYxQOtBiO15Shcff0=w400-h93" width="400" /></a></div><br /><p></p>katchumhttp://www.blogger.com/profile/16885231288918100897noreply@blogger.com0