In a volatile trading week EIA reported builds in crude and gasoline but lower than what API reported. Cushing showed another large build with 2096k bbls.. US production actually fell this week in the shale revolution 100k off the record high to 12.30 mbpd.
In a volatile trading week EIA reported builds in crude and gasoline but lower than what API reported. Cushing showed another large build with 2096k bbls.. US production actually fell this week in the shale revolution 100k off the record high to 12.30 mbpd.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
DOE Weekly Petroleum Status Report: 6/5/19
- via TradersCommunity.com
- Release Time: Wednesday June 12 2018 –10.30 ET
| EIA | Expected | Prior EIA | API | |
| Crude | +2206k | -500k | +6771k | +4852k |
| Cushing | +2096k | +2114k | +1791k | +2365k |
| Gasoline | +764k | +100k | +3205 | +829k |
| Distillate | -1000k | +1200k | +4572k | -3461k |
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization +1.4% to 93.2% Exp +0.9%
- Production –100k to 12.30k bd (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 reversed hard through the 61.8% Fib after breaking down after retesting the cloud and getting the ‘kiss of death’ on the Tenkan/kijun touch.The Daily ABC, B or ii) broke with impulse testing the breakup level Feb. Both the Tenkan and Kijun have flattened above.
WTI spat hard to close the week at the weekly Kijun. Stil finished the week under the 50wma (green) and Tenkan, was rare to see Kijun Sen (pink) penetrated with chikou overshoot – so we got the expected retest there to bring chikou back in balance (blue) – watch Murrey confluence with the cloud acting as resistance.
Crude Oil Futures Committment of Traders
Latest ICE and CFTC Open Interest Data:
4th weekly drop for Brent and WTI down for 6 weeks in a row. A sharp drop in spec length for Brent as prices briefly dropped below $60. WTI spec length at seasonal lows.
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
Brent/WTI Vol May 31, 2019 NYMEX LO = CRUDE OIL OPTIONS ICE_North Sea BRN
via CommodityVol.com @CommodityImpVol
Update of Brent & WTI Option Vol (Live Link)
WTI crude first, second third month atm vol May 31, 2019 NYMEX LO = CRUDE OIL OPTIONS
Atm vol: May 31, 2019
NYMEX LO = CRUDE OIL OPTIONS NYMEX OH = NY HARBOR ULSD OPTION NYMEX OB = RBOB OPTIONS
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 Back Off ATH.
US Oil Imports Week Over Week
US Oil Input Into Refineries Per Day
US consumers spent $1,133.30 million dollars per day for gasoline last week. That is +74.5 mil YoY.
US avg retail price for gasoline was $2.732 last week. That is -19.90 cents YoY.
US consumers bought 414.83 million gallons of gasoline per day last week. That is -0.09 mil YoY
US Oil Field Production of 12.30 OFF ATH 12.40
US Crude Oil Production by State and API at February 2019 via OILytics @OilyticsData
Crude Production by state and API: Data updated until Jan-19. L48 monthly production drops for the first time in 8 months.
Y-o-Y production growth (KBD):
- API 25 and lower: -116
- 25-30: -90
- 30-35: +83
- 35-40: +603
- 40-45: +583
- 45-50: +320
- 50+: +82
** 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 by Country:
US Crude imports -0.3MMBD w-o-w but still above 7.5MMBD for the 2nd wk in a row. Ven exports to 0 for the 3rd wk in a row while Saudi exports trend down. However, US imported 60% of its crude from Canada + Mexico this week.
EIA Product Stats:
Another bearish products number as they build 7MMBBLs (+4.2 other oil, Propane +2.8, Gasoline +0.7 Disty -1). Overall product stocks at the highest level in 9 months and has built 55MMBBLs in 9 weeks.
EIA Crude Stats:
Crude build of 2.2MMBBLs, surprising to see crude builds when refinery runs are over 17MMBD and exports above 3MMBD. Crude stocks at the highest level since October 2017 and is 53MMBBLs higher than this time last year. Drop in adjustment factor to 590KBD.
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