The Tank Tiger Jeopardy: Your Answer to Every Storage Requirement
This is The Tank Tiger Jeopardy! This company just posted some tanks on sublease in Houston. 350 kb. (3x110kb & 20kb) Available feb. This company just posted 300 MB deepwater Fuel Oil / Heavy Products in the lower Mississippi River and is asking $0.60/bbl/month. This company just posted 80 MB of deepwater clean products and chemicals storage in the lower Mississippi River. This company just posted 230 MB of deepwater fuel oil storage in Houston in 2 tanks. Who are these companies? What are the answers to your storage requirements? The Tank Tiger has all of these answers at our fingertips and we can play Jeopardy all day without a commercial break. Yeah, we miss Alex too. Just email, call, text, ICE, smoke signals – whatever suits you. We have more tanks than Kellogg’s Cold Breakfast Cereal, Single Serve, Variety Pack has Frosted Flakes and Raisin Bran.
With the round of Final Jeopardy in the books, we turn to the energy policy of the new administration. Of course, consumers would love to see more domestic oil supply that would put pressure on prices. However, oil companies are already showing skimpier production budgets for 2025 as capital discipline remains the new mantra. While the Permian still has a robust future, inventory depletion in that region is a reality. Two steps forward, one step back. Unless we see price movement into the 90’s, production growth will stagnate. The paradox to this is if prices do climb into the 90’s, that’s not going to be music to the ears of Joe Sixpack at the gas pump. Last week, oil prices secured their fourth straight weekly gain, on the back of the latest US sanctions on Russian energy trade. The Biden administration sanctioned more than 100 tankers and two Russian oil producers. Brent crude futures settled at $80.79 per barrel. WTI closed at $77.88 a barrel. Both contracts gained more than 1% for the week. Last week’s ceasefire agreement between Israel and Hamas may cool things off in the Middle East, and eventually put pressure on oil prices. For the sake of humanity, let’s hope so.
Wall Street had its best weekly performance since November 2024. For the week, the benchmark S&P 500 climbed 2.9%. Recent employment data reported an addition of 256,000 jobs in December, which jolted the consensus expectation of 155,000 jobs. I don’t want to work, I want to bang on the drum all day. There is reason to believe that future job reports will be equally as strong with economic growth to prosper as a result. This will make it tough to put inflation to sleep and perhaps disappoint those who were hoping for some magic that would lead to cheaper grocery prices. Yes indeed it is a complicated confluence which makes this cauldron boil. Salaca doo la menthicka boo la bibbidi-bobbidi-boo. Congrats to the Buckeyes!
