Author Archives: Materra.io

Crude oil inventories build 19.2 million. The price still flirting with $20

crude oil inventory build reached 19.248 million vs 12.7 million estimate. It was the largest weekly build on record. The private API data showed a build of 13.143M barrels gasoline inventories showed a build of 4.914M distillates showed a build of 6.28M Cushing OK crude oil build 5.724M vs 6.417M last week Gasoline demand remains depressed at 5836.4 (vs 5834.0) Crude oil demand 15.320M vs

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US initial jobless claims 6606K

In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week’s revised  average. The previous week’s average was

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Nonfarm payroll employment falls by 701,000 in March; unemployment rate rises to 4.4%

Nonfarm payroll employment declined by 701,000 in March, and the unemployment rate increased to 4.4 percent, reflecting the broad impact on the job market of the coronavirus (COVID-19) and efforts to contain the illness. Employment fell by 459,000 in the leisure and hospitality industry, mainly in food services and drinking places. Notable employment decreases also occurred in health care and

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US Jobless claims soar to record high of 6,6 million

In the week ending March 28, the advance figure for seasonally adjusted initial claims was 6,648,000, an increase of 3,341,000 from the previous week’s revised level. This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series. The previous week’s level was revised up by 24,000 from 3,283,000 to 3,307,000. The 4-week moving

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US GDP increased at an annual rate of 2.1 percent in the 4th Q of 2019

Gross Domestic Product, Fourth Quarter and Year 2019 (Third Estimate); Corporate Profits, Fourth Quarter and Year 2019 Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP also increased 2.1 percent. The

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US weekly EIA crude oil inventories +13833k, but the price is stuck at $20 for now

US weekly EIA crude oil inventories +13833k vs +3300k expected Prior was +1623K Gasoline +7524K vs +1200K exp Distillates -2194K vs +1000K exp Refinery utilization -5.0%  vs -1.0% exp Production 13.0 mbpd vs 13.0 mbpd prior API yesterday: Oil +10485K Cushing +2926K Gasoline +6058K Distillates -4458K The price of crude oil is firmly held at aprox $20 and it looks

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FED announces establishment of a temporary FIMA Repo Facility to help support the smooth functioning of financial markets

The Federal Reserve on Tuesday announced the establishment of a temporary repurchase agreement facility for foreign and international monetary authorities (FIMA Repo Facility) to help support the smooth functioning of financial markets, including the U.S. Treasury market, and thus maintain the supply of credit to U.S. households and businesses. The FIMA Repo Facility will allow FIMA account holders, which consist

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From March 15 to March 21.2020, 3,3 million US workers filed for unemployment insurance!

Is this a clear sign of possible new Great Depresion? Well, if we take a look at the 2009 crisis data and this one from last week, we could be near that form. Acording to some analysts, US unempoyment rate might rise as high as 30% in the 2nd quarter of 2020. $2.2 trillion bill Congress passed so far, but

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