Another week of record crude production and rising rig counts has left WTI sitting above $60. With thinning volume and cracks this week’s EIA Petroleum Inventory Report is instructive.
Another week of record crude production and rising rig counts has left WTI sitting above $60. With thinning volume and cracks this week’s EIA Petroleum Inventory Report is instructive.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
DOE Weekly Petroleum Status Report: 2/14/18
- via TradersCommunity.com
- Release Time: Wedneday 22 February 2018 – 11:00 ET
| Actual | Expected | Prior EIA | API | |
| Crude | -1616k | +1300k | +1895k | -907k |
| Cushing | -2664k | -2830k | -3642k | -2644k |
| Gasoline | +261k | +1400k | +3599k | +1468k |
| Distillate | -2422k | -1600k | -459k | -3563k |
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization -1.7%
- Production -1kbd 10.27mbd just shy of ( ATH) +11.6% y/y
Summary of Weekly Petroleum Data for the Week (Live Link)
Criterion U.S. Crude Oil Production Forecast @Criterionrsch
EIA Inventory Forecast via @tankertrackers.com
“Cushing crude oil storage is currently down 45% year-on-year. Just look at all that red.”
The Fundamental Edge with Brynne Kelly @BrynneKKelly
Chad Stickforth Data @DigStic
RonH Data @Ronh999
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
The American Petroleum Institute showed a fall in U.S. oil inventories by around 900,000 barrels last week, news reports said Wednesday. Official data from the Energy Information Administration are due Thursday morning. A survey of analysts by The Wall Street Journal produced an average estimate for a 1.9 million barrel rise in crude supplies. April oil futures on the New York Mercantile Exchange CLJ8, -1.12% trimmed a decline in electronic trading, changing hands at $61.34 a barrel, a loss of 34 cents.
** 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 Criterion Research
From TradersCommunity Research