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Been having huge draws on Crude and here we sit under $48. Today’s action was extreme chop up and down 50 cents. Big bets on again for a big draw feels like
Big product builds, smaller Cushing – prompt down 30 cents in what looks like a tired market. Confirmation tomorrow and a smaller crude draw will be toxic
Summary of Weekly Petroleum Data for the Week Ending August 18, 2017
U.S. crude oil refinery inputs averaged about 17.5 million barrels per day during the
week ending August 18, 2017, 104,000 barrels per day less than the previous week’s
average. Refineries operated at 95.4% of their operable capacity last week. Gasoline
production increased last week, averaging about 10.6 million barrels per day. Distillate
fuel production decreased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 8.8 million barrels per day last week, up by 664,000
barrels per day from the previous week. Over the last four weeks, crude oil imports
averaged over 8.2 million barrels per day, 3.1% below the same four-week period last
year. Total motor gasoline imports (including both finished gasoline and gasoline
blending components) last week averaged 555,000 barrels per day. Distillate fuel imports
averaged 132,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) decreased by 3.3 million barrels from the previous week. At 463.2 million
barrels, U.S. crude oil inventories are in the upper half of the average range for this time
of year. Total motor gasoline inventories decreased by 1.2 million barrels last week, but
are near the upper limit of the average range. Finished gasoline inventories increased
while blending components inventories decreased last week. Distillate fuel inventories
remained unchanged last week and are in the upper half of the average range for this time
of year. Propane/propylene inventories increased by 2.9 million barrels last week but are
in the lower half of the average range. Total commercial petroleum inventories remained
unchanged last week.
Total products supplied over the last four-week period averaged over 21.0 million barrels
per day, up by 1.4% from the same period last year. Over the last four weeks, motor
gasoline product supplied averaged 9.7 million barrels per day, down by 0.4% from the
same period last year. Distillate fuel product supplied averaged over 4.2 million barrels
per day over the last four weeks, up by 14.4% from the same period last year. Jet fuel
product supplied is up 1.3% compared to the same four-week period last year.This; US crude imports,
Saudi Arabia : 944kbpd (previous week 813),
Iraq 685kbpd (716),
Venezuela 987kbpd (648),
Nigeria 400kbpd (214k)-EIAWhat was that about cutting Exports KSA?
FILL UP YOUR TANKS TODAY …Just in case worse case scenario of some refinery or Gulf coast operations shutdowns occur for safety reasons. Prices sometimes spike a dime or more per gallon when storms impact the area .. Like a cat with 9 lives — old HARVEY has re-emerged from shadows — right after the great eclipse
Mason Hamilton @T_Mason_H
TS Harvey inbound to USGC – read more about refineries & transportation fuels infrastructure in the path here https://goo.gl/BKkUSN #OOTT
The Harvey effect more likely to be seen in following week EIA, next week’s will be for data ended tomorrow.
IOW – FILL UP TODAY — if refineries are impacted by storm, gas will spike 10-20 cents nationwide or more & some areas could even “dry up” supply wise (like we saw with Katrina) … our Avalon has 18 gallon tank & am 3/4 mark — so I’m going top off in the next day or so
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