This week saw a monumental gap up in spot uranium. After observing the details around price action and commentary with uranium this week, this exact moment reminds me of when #rhodium shot through $10,000/oz in early 2020, where there was no technical resistance alongside no physical supply. Rhodium kept going and topped out around $30,000/oz
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$OIH $RIG $VAL $TDW $NE $BORR $DO $SDRL A few thoughts on (1) Outlooks from 3Q23 calls, (2) the Oilfield Services industry and (3) Long-Cycle Supply/Demand. (1) Outlooks from 3Q23 earnings affirmed belief in a multiyear upcycle although focus has been short-term softness. Offshore experienced a painful 7-8 year downturn and these memories are not
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U.S. oil prices soared Wednesday to their highest level in more than a year. Most frackers plan to stay on the sidelines. Surging global demand coupled with output cuts by Saudi Arabia and Russia have sent crude prices to levels not seen since last August. The increase is hitting consumers at the pump, vexing policy
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Saudi Aramco is looking for more acquisitions in LNG following a first-ever deal in the industry last month, as it sees growing demand for the fuel. Aramco last week announced its entry into the market with the purchase of a stake in a company that’s acquiring interests in four Australian LNG projects. It will evaluate
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The world needs $14 trillion in cumulative investments in the oil sector by 2045 to ensure market stability and avoid energy and economic chaos, OPEC said in its annual World Oil Outlook on Monday. The annual investments need to be around $610 billion on average, the bulk of which should go to the upstream segment,
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Exxon Mobil confirmed a deal to buy Pioneer Natural Resources on Wednesday, cementing itself as the dominant oil producer in the Permian Basin region of the U.S. The early assessment from several analysts is that Exxon is paying a reasonable price, buying a well-regarded producer at a modest valuation. After including Pioneer’s debt, Exxon (ticker:
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