SPECIAL REPORT | May 26, 2009

Market Conundrums: A bullish market with bearish undertones confronts OPEC

Bullish sentiment is dominating the $60 oil market, reninforced this past week-end by G-8 and invited Energy Ministers meeting in Italy... But the biggest puzzle is really in the short-term market, where dynamics should at some point put a damper on the recent surge in prices from the $50 to the $60 range and could even reverse it if financial players are forced to cover positions that physical market forces won’t support.


SPECIAL REPORT | May 18, 2009

Why the Raucous from Caracas? Puzzling new Venezuelan production numbers

Venezuela's claim of significantly higher production over the past few years looks likely to reshape expectations for the May 28th OPEC meeting, while also throwing spanners into virtually everyone's analysis of global balances for the past three years. The challenge to conventional wisdom about Venezuela's production capacity and actual production levels began with the publication in the May 4th issue of _Middle East Economic Survey_ of an article by Juan Carlos Boué, a senior advisor to Ven… .......


SPECIAL REPORT | May 14, 2009

Cushing South: Natural gas flows could pressure another North American benchmark

In a few months, physical realities around Nymex's pricing point are likely to pressure its benchmark contract. Flows on the region’s outbound pipelines may begin to decline as buyers elsewhere curtail purchases. Doubling as a key storage hub, the region’s brimming inventories would soon approach capacity constraints, weighing heavily on regional prices and pulling down the Nymex contract. This time, we’re not talking about the oil market in Cushing, Oklahoma but about the natural gas marke… .......


DATA INSIGHT | May 08, 2009

May 08, 2009

Please find attached a summary of the latest of CFTC Commitment of Traders Report for WTI , Natural gas, Heating oil and RBOB .


SPECIAL REPORT | May 01, 2009

Russia and the Caspian States in the Global Energy Balance

One of the expectations... is that Russian production will fall sharply, as will production in many other so-called "non-Opec countries" as a result of more limited cash-flow that result from lower oil prices. This myth about the cycle is actually factually untrue. (These are closing remarks delivered by Ed Morse at the Baker Institute Conference on Russian and the Caspian States in the Global Oil Balance held in Moscow on March 20, 2009.)


DATA INSIGHT | May 01, 2009

May 01, 2009

Please find attached the latest summary of the CFTC Commitment of Traders Report for WTI , natural gas and products.


DATA INSIGHT | May 01, 2009

May 2009

Please find attached the LCMC Monthly calendar for May


SPECIAL REPORT | April 29, 2009

Building Long Term Energy Security

This moment of global crisis, with the world economy contracting, commodity prices falling, and credit markets frozen, provides a unique opportunity to lay the groundwork for long-term energy security and more peaceful international relations. This report, written jointly by Ed Morse, David Goldwyn and Michelle Patron, three former government officials in private businesses today, was published by the Global Energy and Environment Initiative of the Johns Hopkins School of Advanced International… .......


SPECIAL REPORT | April 27, 2009

Nothing to sneeze at: data continue to suggest a weak oil market

Stories of swine flu outbreaks in several countries seem to have infected commodity markets this morning. WTI and Brent were briefly down nearly $3.50 (-6.8%) in early trading today amidst speculation that product demand would suffer as people and governments curtail travel should reports of this illness continue to spread. To be sure, a deadly flu outbreak is nothing to sneeze at. The so-called Spanish flu pandemic of 1918-9 likely killed upward of 50 million people worldwide and perhaps as ma… .......


SPECIAL REPORT | April 21, 2009

Rally Caps: New production dynamics require a rethinking of the 2010 natural gas market

Please see attached our latest Special Report: Rally Caps New production dynamics require a rethinking of the 2010 natural gas market Key Takeaways: 1) Natural gas producers have adapted to the low price environment by deferring production, effectively creating spare capacity. 2) Deferred production is occurring as producers aim to take advantage of the contango in the forward curve, not necessarily because the price of gas has dipped below operating costs. 3) Producers are also managing.....