Following Hurricane Barry the EIA reported a huge draw in crude of -10835k bbls with small changes in gasoline and distillates. Cushing showed a draw of -429k bbls. US production fell on the Barry shutdowns 700k to 11.30 mbpd off the record high of 12.40 mbpd.
Following Hurricane Barry the EIA reported a huge draw in crude of -10835k bbls with small changes in gasoline and distillates. Cushing showed a draw of -429k bbls. US production fell on the Barry shutdowns 700k to 11.30 mbpd off the record high of 12.40 mbpd.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
DOE Weekly Petroleum Status Report: 7/17/19
- via TradersCommunity.com
- Release Time: Wednesday July 24 2018 –10.30 ET
| EIA | Expected | Prior EIA | API | |
| Crude | -10835k | -4000k | -3116k | -10961k |
| Cushing | –429k | -560k | -1351k | -448k |
| Gasoline | -226k | -700k | +3565k | +4436k |
| Distillate | +613k | +500k | +5686k | +1420k |
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization -1.3% at 93.2% Exp -0.5%
- Production -700k to 11.30 mbpd (12.40 ATH)
Summary of Weekly Petroleum Data for the Week (Live Link)
API Crude Inventories
Weekly Global Oil Prices
WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave
WTI broke the inner daily downtrend channel and cloud to break the tekan and test the cloud bottom run to the second channel after running through the 50 dma crossing though the Tenkan, We failed to get back over Kijun even with ‘Iran tests’. A C wave or a iii of I are the alternatives. Watch for spits now with fear in the pricing.
WTI again finished the week under the weekly Tenkan, Kijun and 50wma (green), now as key resistance outer channel, We tested the cloud base and closed at the chikou. Watch Murrey confluence with the cloud acting as support, failure.
Crude Oil Futures Committment of Traders
A reminder that CFTC’s weekly #CoT updates covering the week to July 2 are delayed until 3:30pm ET on Monday
Latest ICE and CFTC Open Interest Data:
CTFC and ICE open interest:
Speculators cut bullish #Brent crude #oil bets by 7k lots to 248k lots, a five-month low, during the wk to July 2. Demand worries cont. to outweigh geopolitical risks. The CFTC’s delayed COT report due later today via Ole S Hansen @Ole_S_Hansen
OILytics @OilyticsData
Ole S Hansen @Ole_S_Hansen
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
WTI Vol July 5, 2019 NYMEX LO = CRUDE OIL OPTIONS
via CommodityVol.com @CommodityImpVol
Update of Brent & WTI Option Vol (Live Link)
Front month crude puts look offered over the last five days – July 10
Here is the skew pic over the first few contract months – July 10
The Fundamental Angle with Brynne Kelly @BrynneKKelly
DigStic Data @DigStic
RonH Data @Ronh999
Cushing Oil Stocks
NB: Check out Ron’s great work at Ron H Public Tableau Link
US Oil Exports Coming Back After NEW ATH.
US Oil Imports Week Over Week
US Oil Input Into Refineries Per Day
US consumers spent $1,1172.20 million dollars per day for gasoline last week. That is -53.50 mil YoY.
US avg retail price for gasoline was $2.755 last week. That is -8.1 cents YoY.
US consumers bought 406.27 million gallons of gasoline per day last week. That is -7.26 mil YoY
US Oil Field Production of 11.30 OFF ATH 12.40 (Blame Barry)
US Crude Oil Production by State and API at April 2019 via OILytics @OilyticsData
Crude Production by state and API: Data updated until April-19. L48 monthly production growth y/y at 1708KBD
Y-o-Y production growth (KBD):
- API 25 and lower: +22
- 25-30: +98
- 30-35: +105
- 35-40: +479
- 40-45: +522
- 45-50: +428
- 50+: +60
** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.
OILytics @OilyticsData
EIA Crude Imports:
Crude imports down -470KBD. Canada down -410KBD but 4 wk average remains high. Zero imports from Venezuela an Kuwait but volumes from Nigeria return.
EIA Products:
Very bearish product numbers as it builds +14.7MM to reach near 5 yr seasonal highs. Distillates build +5.7MM as demand and exports drop while yield remains high. A lot of noise however due to TS Barry.
EIA Crude Stats:
: Crude draws -31.MM while big product builds of +14.8MM. Storm Barry expected to make the next two weeks reports volatile. Production down -300KBD while adj factor swings +997KBD.
US Crude Oil Prices and Recessions
Via John Kemp @JKempEnergy
Key EIA and CME Dates For WTI Crude Oil
CME Crude Oil Futures Calendar
CME Crude Oil Options Calendar
REGULAR & HOLIDAY RELEASE SCHEDULE
From TradersCommunity Research