EIA Oil Inventories – 6023k Crude Draw +1644k Gasoline Build

Our post Harvey TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching for products and production after the hurricanes with the all important import export trade.

Cushing Oil StorageDOE Weekly Petroleum Status Report: 9/27/17
Release Time: Wednesday 4 October 2017 – 10:30 ET

 ActualExpectedPrior EIAAPI
Crude-6023k -500k-1846k-4079k
Cushing +1525k +1408k+1181k +2084k
Gasoline+1644k
 +1000k+1107k+4190k
Distillate-2606k

 -1500k

-814k -584k

Note in bbls *exp = Reuters poll est except Cushing  

Refinery Utilization +-0.5% vs +0.8% expected

Production  +0.1% w/w 9.561mbpd vs 9.547mbpd prior

Summary of Weekly Petroleum Data for the Week (Live Link)

DOE Estimates via TankerTrackers.com @tankertrackers

 

“This Week” inventory change in prior years:

EIA Prep via @DigStic

  Refinery Runs

 

  Cushing Stocks (Hub for WTI Futures Contract)

 

NB: Check out Ron’s great work at Ron H Public Tableau Link

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API WTI crude oil futures settle  $50.42/bbl. -$0.16. -0.32%.

 API via Marketwatch 

By Myra P. Saefong @MktwSaefong

API data said to show U.S. crude supply down, but gasoline stocks climb

The American Petroleum Institute reported Tuesday that U.S. crude supplies fell for a second week in a row, by 4.1 million barrels for the week ended Sept. 29, according to sources. The API data, however, also showed that gasoline stockpiles rose 4.2 million barrels, while inventories of distillates declined by 584,000 barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a fall of 1.5 million barrels in crude inventories, along with a climb of 1.5 million barrels for gasoline and decline of 2.4 million barrels for distillate supplies. “The crude draws continue, but a big build in Cushing [Okla.] and gasoline stocks may slow the momentum,” said Phil Flynn at Price Futures Group. November crude CLX7, +0.32% was at $50.21 a barrel in electronic trading, down from the settlement of $50.42 on the New York Mercantile Exchange.
 

** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.

REGULAR & HOLIDAY RELEASE SCHEDULE

Further Crude Oil Analysis #OOTTNews

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