rogermunibond

China to resume exports of gasoline, jet fuel, and diesel to Asian trade partners. https://www.ft.com/content/58ef4bfe-42a9-47f4-b5d3-ca2aba55f054?syn-25a6b1a6=1

Anyone an opinion on Shell's NA transactions? Selling Permian assets to COP in 2021 for $9B and then buying Montney assets in 2026 for $16B. It seems like they did well selling Delaware basin acreage as COP is looking to divest certain Permian assets acquired from Concho and Shell for $2B. Montney assets have higher oil ratio and are long lived production right?

Lol

P/C and reinsurance is hitting a soft market now?

There's literally de minimis Chinese export of refined products into the US. Canada tons but not the US If I was Australia, Japan, SK, yes, that would make sense.

Jack McClendon (yes Aubrey's son) on Odd Lots talking a bit about service costs and wait and see attitude on supply response from US O&G. https://metacast.app/podcast/odd-lots/BsS6SNUS/jack-mcclendon-on-why-it-s-so-hard-to-create-a-new-american-oil-boom/h2zlFWYM Yeah, that's a good question. I mean, as I said, I hate to use round numbers, but that's just kind of the world we live in. And I think if you saw a sustainable price above eighty over a prolong period, maybe call it four to eight months, I think you would see a supply response because there's you know, there are a lot of there are a lot of shale wells that work at eighty to ninety that don't work at fifty to sixty depending on who you talk to in the permean, you know, there's kind of anywhere between five to ten years of what you would call core inventory left or economic inventory left that obviously changed. That's obviously largely a function of price as well as geology. So a higher for longer price, I think you would, you would you would see a production response from the industry. Now, you know, do I think we're going to go back to the days of growing one to one and a half barrels a day? You know, I don't. I don't think so. But could you see, you know, could you see an era where you know, we're growing three hundred to five hundred thousand barrels a day? Yeah, I mean I think that that's possible. But as I said, you would you would need to see prices settle above eighty for a prolonged period of time, I think to kind of see a supply response, because even shale, which you know is kind of called a that's a that's a short, short supply response, right, that's about as short as short barrows. Yeah, it's about as short as it gets, right. I mean, you've got you know, but it's still it's still a four to six month response time, right. I mean, because a lot of the a lot of the rigs that you saw kind of start to roll off, you know, that's a that's a six month lag.

https://www.politico.com/news/2026/04/13/missouri-city-council-data-center-00867259 politicians voted out of office for data center votes

http://sherwood.news/markets/hsbc-ceo-cost-of-oil-has-hit-as-much-as-usd286-per-barrel/ HSBC Group’s CEO, Georges Elhedery, just broke down why end buyers of oil are facing prices way above what traders see on their screens. During a fireside chat with Bloomberg TV’s David Ingles at HSBC’s Global Investment Summit, Elhedery explained why his “biggest worry about the global economy is the disruption that’s coming from the Strait of Hormuz closure, or quasi closure.” While the ceasefire between the US and Iran was intended to improve the flow of oil through this key choke point, the subsequent announcement of a US blockade of the waterway threatens to do precisely the opposite. And that’s potentially prolonging, or exacerbating, the pain for crude importers, as Elhedery unpacked: In a separate interview with Bloomberg News, Elhedery warned that the continuation of these shipping disruptions would be felt not just in the price of energy, but also its availability. Separately, the International Energy Agency updated its oil market outlook, with the Paris-based organization now forecasting a contraction in both supply and demand for oil, predicting an “80,000 bpd drop in demand growth this year, from a 640,000 bpd rise in its March report,” according to Reuters.

https://www.eia.gov/dnav/pet/pet_move_impcp_a2_r10_EPP0_IP0_mbbl_m.htm Looking through the EIA database, I was surprised to see that PADD3 is a large importer of unfinished oils. Guess that's to blend into the lighter US crude grades for refining runs.

Gulf coast refined product shortages? Don't you mean west coast? Good luck getting any new refinery built.

https://giftarticle.ft.com/giftarticle/actions/redeem/db5811a9-2c7c-4349-8148-2ffe4eb54f84

A 46 day game of chicken between US/Israel and the Iranian Regime that everyone including the combatants are tired of.

Much of the best acreage in the Midland and Delaware basins is already drilled.

@Sweet there was a mammoth DUC count that's come down substantially over the last 5 years, wouldn't count on that relationship going forward.

This doesn't read like a bubble https://www.wsj.com/tech/ai/ai-is-using-so-much-energy-that-computing-firepower-is-running-out-156e5c85?mod=hp_lead_pos1

When it was a short term shutdown, no reason for VLCCs to reroute to Houston and Gulf Coast. Now the law of one price starts to work. Dated Houston and LLS converge to dated Brent. Gas, diesel, jet fuel prices rise further. How long before there's talk of an export restriction?

EQIX and DLR are starting to take off. quite a few analyst reports on channel checks showing high bookings from corporate clients. this is all deployment of AI/LLM to corporate business processes.

Lol

More ships than appears are transiting SoH with AIS turned off... Also a report from Citrini today says pretty much the same. https://www.aljazeera.com/news/2026/4/3/french-owned-container-ship-transits-hormuz-strait-in-first-since-iran-war

@Mephistopheles COIL ICE Brent Crude