Market, Energy, And Political Page -- T+173, July 2017

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Title : Market, Energy, And Political Page -- T+173, July 2017
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Market, Energy, And Political Page -- T+173, July 2017

I was out and about all day. Just got back in. Quickly.

Screenshot from The Drudge Report:


Trump rally extends. From Reuters: Dow sets record-high close; Fed signals gradual rate hikes.

All they got on Trump, JR: "I love it." And Donald himself released it. Time to move on.

Crude oil inventories drew down a whole lot more than anyone expected a few weeks ago. Time to re-balance dropping fast. Time to re-balance: 47 weeks. What's not to love.

Week
Date
Drawdown
Storage
Weeks to RB
Week 0
Apr 26, 2017

529.0
180
Week 1
May 3, 2017
0.9
528.0
178
Week 2
May 10, 2017
6
522.0
29
Week 3
May 17, 2017
1.8
520.2
95
Week 4
May 24, 2017
4.4
515.8
38
Week 5
May 31, 2017
6.4
509.9
41
Week 6
June 7, 2017
-3.3
513.2
60
Week 7
June 14, 2017
1.7
511.5
63
Week 8
June 21, 2017
2.5
509.0
62
Week 9
June 28, 2017
-0.2
509.2
71
Week 10
July 6, 2017
6.3
502.9
58
Week 11
July 12, 2017
7.6
495.3
47

Too good not to show again (previously posted):
Perhaps the best chart of the month:

Second best chart of the day:


Re-posting: Turkey withdraws from Paris climate accords. Says it wants US financial aid.


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