Monday Macro View – What is the Frac Spread Count telling us?
The Frac Spread Count climbed from 192 to 200, but the bigger signal may be where that strength is coming from. With gas-leaning and mixed basins driving the latest gains, crude inventories drawing sharply, and refiners running near full tilt, the market looks tighter than futures suggest. Is this recovery gaining traction, or hiding a more complicated second-half setup? Read more in our Monday Macro View*.
Market Sentiment Tracker – Has the oil premium really gone?
Dated Brent has fallen back to lower 70s, but has the war premium really vanished? Ras Tanura is loading again and Hormuz flows are improving, yet tanker traffic remains far below pre-war norms. With Brent’s curve slipping into contango and hedge funds fading risk, the market may be pricing peace faster than barrels can prove it. What breaks first in July? Read more in our Market Sentiment Tracker*.
Baker Hughes becomes an AI enabler
Baker Hughes may still look like an energy services company, but its next growth lane is starting to run through AI infrastructure. With data center-related orders hitting $1 billion in Q1 2026 alone and disclosed projects reaching 1.73 GW, the company is quietly becoming a power enabler for AI’s biggest constraint. Is this the overlooked industrial AI trade? Read more in our latest AI series.*
From AI to Oilfield Power
AI is no longer just a chip or data-center story. The AI Power Stack traces how each query pushes demand from compute to utilities, gas-fired generation, pipelines, and oilfield services. With AI campuses moving toward gigawatt-scale loads, the real question is who can deliver reliable power fast enough—and which energy players benefit first as the buildout accelerates next from here? Read more in our latest article.
US Frac Activity Follows the Best Rock
U.S. frac activity is still expanding, but the story is becoming more selective. Capital is flowing toward premium rock, yet the bigger question is where that rock is and which operators are positioned closest to it. With discipline holding and production still improving, the market is shifting from expansion to execution. The next winners may be decided by inventory quality. Read more in this article.
Free Read: What is keeping the oil prices low?
Oil prices look calm, but the setup is anything but. Hormuz flows are still far below normal, yet Brent sits in the lower 70s traders look past the disruption. Supply is returning, sentiment has turned, and China remains the missing buyer. The real risk is what happens when that sequence shifts and whether today’s bearish calm becomes tomorrow’s repricing. Read more in our Free Read.
If You’re Still Relying on Lagging Data, You’re Already Behind. EFRACS shows where activity is moving before production reacts.
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