Haymaker Daily
Runnin' (almost) On Empty
Hello, Subscribers:
Before getting to the meat/potatoes of today’s Daily edition, here’s a link to the elder Haymaker’s most recent appearance on the program of his longtime friend, David Lin. For those of you who keep up with Haymaker posts, some of what the two Davids discuss will be familiar, though there’s plenty you likely haven’t yet heard. Enjoy the show! (One note we'd add is that the title doesn't reflect our David's main points; namely, that he believes oil, gas, coal, and uranium prices are poised for another vigorous rally.)
Daily
Oil prices tumbled approximately 3% yesterday after Energy Secretary Chris Wright told CNBC’s Brian Sullivan that tanker traffic through the Strait of Hormuz is rising meaningfully. The market apparently focused only on this snippet while ignoring his follow-on points that crude shipments remain a fraction of what they were prior to the start of the war with Iran. He further opined that it would likely take many months to return to normal levels.
