The fast shrinking crude inventories at Cushing, the hub for the WTI futures contract are getting attention. We saw another week of near record crude production and rising rig counts that sees WTI losing momentum
The fast shrinking crude inventories at Cushing, the hub for the WTI futures contract are getting attention. We saw another week of near record crude production and rising rig counts that sees WTI losing momentum.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
- via TradersCommunity.com
- Release Time: Wedneday 28 February 2018 – 10:30 ET
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization Prior -1.7%
- Production +.1% 10.283mbd just shy of ( ATH) +11.6% y/y
“Cushing crude oil storage is currently down 45% year-on-year. Just look at all that red.”
Chad Stickforth @DigStic – Since report dated Nov-10-17, Cushing has drawn in every week except for one for a total depletion of 34.6 million barrels. Impressive.
US consumers spent $152.4 million more dollars per day for #gasoline last week compared to same week last year
US consumers bought 27.63 million more gallons of #gasoline per day last week compared to same week last year #OOTT
NB: Check out Ron’s great work at Ron H Public Tableau Link
WTI Oil Futures (CL) via @Lee_Saks
Ahead of API Feb WTI crude oil futures settled at U.S. crude at $
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.
Further Crude Oil Analysis Criterion Research
From TradersCommunity Research