Stephen Schork is the Founder and Editor of The Schork Report, a daily subscription newsletter providing comprehensive technical and fundamental daily views of the energy cash and financial markets. Published since April 2005, The Schork Report is geared towards professionals in the global energy arena looking to improve economic performance while managing risk. Further information is available at www.EnergyMarketIntelligence.com.
Schork was a floor trader (Local) in the New York Mercantile Exchange’s energy complex and has more than 18 years experience in physical commodity and derivatives trading, risk systems modeling and structured commodity finance.
A recognized expert in the energy sector, Schork is a regular guest on CNBC and Bloomberg Television. He is also frequently quoted in The Wall Street Journal, Business Week, Reuters, the Associated Press, Platts, The Street.com and CNNMoney.com.
Not to marginalize the loss of life and property in the wake of Hurricane Irene, but, based as a function of media hype, this weekend’s storm along the eastern seaboard was a dud.
Concerns about a double dip have always been on the backburner, but rarely have pundits been so vocal with concerns regarding QE3, domestic unemployment, the housing market, and debt concerns out of Spain.
The White House confirmed that President Obama is preparing a “jobs proposal‟ which he intends to introduce to the public as soon as gets back from his vacation on Martha’s Vineyard (he’s waited 31 months, what’s another couple of weeks?).
Welcome Back, Carter. Confidence amongst consumers in the U.S. plunged in August to the lowest level since the dying days of the Carter Administration. The University of Michigan’s preliminary index of consumer sentiment dropped by nearly 9 points, or 14% to 54.9.
We are now halfway through the second phase, i.e., the dog days phase, of the summer natural gas refill-season in the U.S. As noted last month in The Schork Report, this phase of the season produces the lowest injections of the cycle as peak a/c demand siphons off molecules through July and August.
Despite a stronger dollar and weak equities, front month WTI jumped 4.53%, the highest daily gain since May 9th and, with a settle of 82.89, a definitive settle above the 80.00 barrier.