“Even adjusting the Fed’s balance sheet for excess reserves (a debate in and of itself), we believe today’s balance sheet justifies a gold price in excess of $15,000 per ounce on the low side or...
As proof we live in interesting times, just consider the gold-oil ratio over the last few months. Because of the impact of COVID-19 on the global economy, the gold-oil ratio has reached the highest...
We may be near the end of the twelve-year bear market in natural gas. Although we have mostly stayed away from natural gas stocks over the last several years, we continue to follow the market...
The Managing Partners here at Goehring & Rozencwajg have historically been relied on to provide perspective on an array of natural resource-related topics. For your reading interest, below is a list...
During a recent client call, this question on inflation was posed to G&R Managing Partner Adam Rozencwajg, CFA: “Over the past 40 or so years, we've been in a period of declining real interest rates....
“If production were to average 80.5 mm b/d, then global inventories would go from ‘full’ to 15-year low levels in only two months.” Image Source: desmogblog.com In recent blogs we’ve been...
![[New Podcast] Adam Rozencwajg Talks Oil Markets on Financial Sense](https://blog.gorozen.com/hubfs/Blog%20Images/G%26R%20PODCAST%20-%20Financial%20Sense.%20May%202020%20-%20LinkedIn.png)
“In the history of crude oil, nothing can compare to the past two months." Goehring & Rozencwajg managing partner Adam Rozencwajg recently joined Financial Sense (FS) Senior Editor Cris Sheridan...
“According to the EIA weekly inventory figures, US production has fallen by nearly 1 mm b/d or 7% in only five weeks – the second-sharpest decline in US production ever outside of hurricane-related...
Oil prices have joined bond yields in doing the unthinkable: trading at negative levels. In the case of oil, the West Texas Intermediate (WTI) May 2020 contract reached a low of -$40.32 at 2:24 pm on...
On our recent Market Update conference call (recorded on March 19, 2020), we received a number of questions regarding the supply and demand dynamics of today’s oil markets. Many attendees were...