A Greek Run on Banks – Charting the Flows

May 21, 2012

There has been a consistent level of money leaving Greek banks for the past several months. But, last week saw a real surge in the withdrawals as the panic levels are rising since the government is in shambles.

With all of the jawboning over the last 18 months, Read more

Oil Inventories – Are They Telling Us Anything?

June 9, 2010

Oil and Gas invetoriy numbers were released this moring. Inventory drawdowns in oil were heavy, but gasoline inventories, while seeing a drawdown, were not at expectations. This could mean that demand for gasoline is not there or that there was a significant build due to production. The latter would appear to be more likely as seen by the huge drawdown of crude inventories. Most probably, oil companies are gearing up for the increase in summer driving.

  • Dept of Energy reports that crude oil inventories had a draw of 1829K (consensus is a draw of 900K);
  • Gasoline inventories had a draw of 8K (consensus is a draw of 500K);
  • Distillate inventories had a build of 1836K (consensus is a build of 500K).
  • The change in the US refinery utilization rate was 1.6% (consensus is 0.00%). Read more