A pensive🐿️ contemplates the energy outlook.
The Blind Squirrel's Monday Morning Notes, October 9th, 2023.
Given the tragic events of the weekend in the Middle East, the 🐿️ writes with a high degree of trepidation on the topic of energy. I am trying to deal with the issue with maximum sensitivity. Any apparent failure on that front on my part is of course unintentional (and I apologize in advance for any offense taken).
Last week’s sell-off in crude oil may now seem irrelevant but we explore the various narratives explaining the price action and assess the (limited) technical damage.
To geopolitics, there is an obvious temptation to draw parallels from the Hamas attack on Israel this weekend with the Arab-Israeli conflict of 50 years ago. I suspect that these comparisons are lazy (and misplaced). We focus on the longer-term outlook for the commodity and the sector.
This week’s Acorn review covers #Bonds TLT 0.00%↑ #Offshore RIG 0.00%↑ TDW 0.00%↑ #Energy BNO 0.00%↑ Ag commodities DBA 0.00%↑ WEAT 0.00%↑ CANE 0.00%↑ DASH 0.00%↑ GS 0.00%↑ and Private Equity as well as #uranium
The audio companion to this week’s note will be uploaded to Substack on Tues…