Daily Archives: September 14, 2015

Sunday Morning Note (Sept 13, 2015) …

Sunday Morning Note ...As usual we start with this past week’s data.   Although nearer term oil prices (2015, 2016 and 2017) moved down slightly on the week reflecting continued concerns about the current supply overhang, longer term prices either held steady (largely the story for 2018) or, in fact, advanced (2020) as the market appeared to come to rest for the moment on the belief that the current oversupplied condition isn’t a permanent affliction and that, at some point, the market will start reflecting the long-run marginal cost of production.

Here is the chart reflecting the closing prices this past Friday (an explanation of the source of the data is here) : Continue reading