From Touchdowns to Tankers: A Super Bowl Weekend of Chiefs, Stocks, and Commodity Showdowns
Once again we are preparing to see the Kansas City Chiefs take on the San Francisco 49ers next Sunday. It was only 4 years ago where we saw the same matchup in Miami when fragile Jimmy G and the Niners had the lead with less than 3 minutes to go but Patrick Mahomes led the Chiefs down the field for their first Super Bowl victory in 50 years. What does the Vegas have in store? If the Chiefs pull it out this weekend, will Mahomes be crowned the next GOAT? I guess Cause the players gonna play, play, play, play, play….And the haters gonna hate, hate, hate, hate, hate. Pass the nachos and cheese dip. Tommy want wingy.
What’s hotter than a Carolina Reaper pepper in your Super Bowl cheese dip tray? The stock market extended its record-setting run last week, with the major averages setting highs with an insane jobs report that heightened expectations for future corporate profits. By the way, if you’re looking for a March rate cut – as we say in Jersey – fuggedaboutit. Chairman Powell said, ”Cutting too soon risks a return of inflation, but cutting too late can trigger an economic downturn.” Pass the nerve medicine.
Turning to commodities, Saudi Arabia is holding production levels steadfast, declaring that production would hold at 12M bbl/day, instead of the planned capacity expansion to 13M bbl/day by 2027. They did not give a reason. By the way, the Saudis have been holding their output to about nine million barrels a day in order to shore up prices – so there’s still plenty of headroom. Meanwhile, the Texas Oil and Gas Association reported that the state’s energy industry is showing no signs of taking the foot off the gas, showcasing record levels of crude oil production. Give me a T for Texas.
The Tank Tiger isn’t throwing any Hail Mary’s these days as customers last week had us arrange storage for Distillate, Flux, Base Oil, Fuel Oil, Chemicals, Naphtha, UAN, ethanol, Jet Fuel and railcars and we don’t even have a commercial on the Super Bowl. Enjoy the game.
