Watch Months-of-Supply! by Bill McBride Calculated Risk Both inventory and sales are well below pre-pandemic levels, and I think we need to keep an eye on months-of-supply to forecast price changes. Historically nominal prices declined when months-of-supply approached 6 months – and that is unlikely any time soon – however, as expected, months-of-supply is above 2019 […]

Focus on Fracking: gasoline supplies lowest since November 2017 despite​ gasoline production above prepandemic levels; Focus on Fracking, Commenter and Blogger RJS US oil data from the US Energy Information Administration for the week ending October 29th indicated that after a modest increase in our oil production and only minor changes to our oil imports, our […]