EIA Inventory report showed a surprise build after last week’s draw, the releases and estimates and completely out of whack the past month or so. Gasoline showed a draw also with production falling for the first time in over 6 weeks.
EIA Inventory report showed a surprise build after last week’s draw, the releases and estimates and completely out of whack the past month or so. Gasoline showed a draw also with production falling for the first time in over 6 weeks.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
DOE Weekly Petroleum Status Report: 7/25/18
- via TradersCommunity.com
- Release Time: Wednesday 1 August 2018 – 10:30 ET
| Actual | Expected | Prior EIA | Prior API | |
| Crude | +3803k | -2800k | -6147k | +5590k |
| Cushing | -1338k | -1204k | –1127k | -930k |
| Gasoline | -2536k | -1300k | -2382k | -791k |
| Distillate | +2983k | +300k | -101k | +2890k |
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization +2.30% to 96.1% Exp +0.2%
- Production -0.9% to 10.90k From 11.00k bd (ATH) +15.5% y/y
Summary of Weekly Petroleum Data for the Week (Live Link)
US Crude Oil Prices and Recessions
Via John Kemp @JKempEnergy
Criterion U.S. Crude Oil Production Forecast @Criterionrsch
WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave
WTI Crude Oil Futures Committment of Traders
CL DCOT futures only managed money traders had the least amount of shorts in history. Only 14,132 (Despite The Price Drop)
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
EIA Inventory Forecast via @tankertrackers.com
Here is a great shot of Cushing crude oil storage when it was down 45% year-on-year with the red tanks highlighting the empties
The Fundamental Angle with Brynne Kelly @BrynneKKelly
DigStic Data @DigStic
RonH Data @Ronh999
US Oil Exports off their 2018 (ATH) high.
US Oil Imports Week Over Week
US Oil Input Into Refineries Per Day
US consumers spent $1,180.7 billion per day for gasoline last week. That is $208.5 million more dollars per day than same week last year.
US gasoline avg retail price was $2.846 per gallon. That is 49.4 cents more per gallon YoY.
US consumers bought 414.88 million gallons of gasoline per day last week.
US Oil Field Production, Drops From Record High
US May oil production per day was 10.442 mil bpd. This is lower than the weekly reports that averaged about 10.7 mil bpd.
US Oil Refinery Utilization
Cushing Oil Stocks
NB: Check out Ron’s great work at Ron H Public Tableau Link
Ahead of API July WTI crude oil futures settled at $66.36/bbl. $0.26. +0.39% via @Lee_Saks
API via Marketwatch
** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.
Key EIA and CME Dates For WTI Crude Oil
CME Crude Oil Futures Calendar
CME Crude Oil Options Calendar
REGULAR & HOLIDAY RELEASE SCHEDULE
Further Crude Oil Analysis Criterion Research
From TradersCommunity Research