EIA reported another build in crude storage, that’s ten out of eleven week’s in builds. Crude oil inventories grew +1572k bbls the government agency said. Gasoline grew, while Distillate drew last week. Cushing fell just -97k bbls. US production ht a new record high with 12.90 mbpd.
EIA reported another build in crude storage, that’s nine out of ten week’s in builds. Crude oil inventories grew +1379k bbls the government agency said. Gasoline grew, while Distillate drew last week. Cushing fell with -2295k bbls. US production remained at the record high with 12.80 mbpd.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
- via TradersCommunity.com
- Release Time: Thursday Nov 27 2019 –10.30 ET
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization -.2% at 89.3% Exp +0.5%
- Production +,10 bpd to 12.90 mbpd (12.80 ATH)
WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave
WTI bounced sharply through the tenkan, Kijun and 50 dma zone to close at the cloud after futures expiration Note rising wedge without any resistance quickly completing a fractal spit per Adam’s Theory We saw a little bull flag powered by the Kijun holding and powering through tenkan and 50 dma. The impulse meant a C or (Y) complete – bullish case would be a developing X
WTI sharp impulse higher through 50 WMA rejected at the cloud – we are still working throught he fall after spat the weekly 61.8% We closed over Tenkan, Kijun and 50wma confluence (green) under the cloud,
Latest ICE and CFTC Open Interest Data:
CTFC and ICE open interest: via Ole S Hansen @Ole_S_Hansen
COT on crude oil in wk to Oct. 29.
Hedge funds increased bullish bets on 24 major commodity futures by 146k lots during the wk to Oct 29. Buying was concentrated in the big contracts from crude oil (+56k lots), gasoline (+23k) and natgas (+24k) to HG copper (+23k) and gold.;
Understanding DCOT Reports
Read Understanding Commitments of Traders Reports – COT, TFF and DCOT to help understand the disaggregated reports (DCOT) and how they break down the reportable open interest positions into four classifications: 1. Producer/Merchant/Processor/User 2. Swap Dealers 3. Managed Money 4. Other Reportables
Crude Oil Option Volatilty Watch via commodityvol.com
RonH Data @Ronh999
Cushing Oil Stocks
NB: Check out Ron’s great work at Ron H Public Tableau Link
US Oil Import Export
US Gasoline Consumers
US consumers bought 386.57 million gallons of gasoline per day last week. That is +0.67 mil YoY
US consumers spent $997.0 million dollars per day for gasoline last week. That is +$17.2 mil YoY.
US avg retail price for gasoline was $2.579 last week. That is +4.0 cents YoY
US Crude Oil Production
US Oil Field Production ATH 12.90bpd
September Field Oil Production Hits a New High 12.463 mpd
** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.
EIA Crude Stats::
Crude +1.379MMBBLs. 9th weekly crude stockbuild in the last 10 weeks. Refinery runs +519KBD but runs still lower y-o-y. Production flat while net crude imports remains just below 3MMBD
Products draw -6.3MMBBLs helped by propane and other oils. Strong product demand continues and lower refinery runs helping product tightness.
US Crude Oil Prices and Recessions
Via John Kemp @JKempEnergy
Key EIA and CME Dates For WTI Crude Oil
From TradersCommunity Research