Traders thought Apple had 'the holy grail' of oil data, but the quest continues

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Traders thought Apple had 'the holy grail' of oil data, but the quest continues by LauraSanicola

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FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File PhotoOn-the-spot gasoline consumption figures would change the way oil markets trade, because it is “the holy grail of metrics,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

But U.S. Memorial Day came, and the search data did not translate into activity. The U.S. Energy Information Administration proxy for gasoline demand fell nearly 6% for the week including the holiday. Gasoline futures, which had rallied into Memorial Day, fell after the holiday that kicks off the U.S. summer driving season.

Apple declined to comment. Settings for the iPhone include an option to limit notifications when the device perceives someone is driving, but it is unclear if Apple intends to use that data to enhance its mobility index. He also uses data from TomTom, the global location technology company, which monitors real-time traffic congestion in major world cities, along with the Dallas Federal Reserve Bank’s mobility and engagement index. That index tracks various mobility metrics, including how far user devices travel in a day and how long they stay away from home. The figures are reported on a lagging basis.

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LauraSanicola GasBuddyGuy Samir_Madani TomKloza

LauraSanicola Even if they successfully calculate 'Oil ' Gas' usage how long before every vehicle on the road is electric ?

LauraSanicola I guess Apple isn't as smart as it once was. They can't even find oil. If Steve Jobs was still alive he'd make them succeed by sheer fear of losing their employment.

LauraSanicola Indian terrorism in kashmir

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