The API reported a 3.1mmb draw (Cushing: 1.6mmb), a 3.6mmb draw in mogas, and a 2.3mmb build in distillates. All-in-all a positive report although the distillate build may not auger well for the natural gas storage. XEC: Charles Robertson, Alden’s Head of Energy...
We would expect additional M&A after Anadarko’s (APC) purchase by Chevron (CVX). Occidental (OXY) possible higher bid for APC according to news reports leaves at least one potential buyer looking. Devon (DVN) and Pioneer Natural (PXD) appear most likely takeouts...
We are cautiously optimistic on Energy and the market for 1H19 where we expect higher than normal correlation between SPX 500 & WTI. Data continues to be negative on the demand side, though investors seem to be looking through numbers for the Fed to be...
