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EIA reported a large draw in crude oil inventories but less than API. Both gasoline and distillates showed bigger builds with production falling from all time highs last week. With hurricane Florence hitting the EastCoast gasoline and the cracks are in focus.

Cushing Storage Tanks

Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.

DOE Weekly Petroleum Status Report: 9/5/18

  • via TradersCommunity.com
  • Release Time: Thursday 12 September 2018 - 10:30 ET 
Actual Expected Prior EIA API
Crude -5296k   -800k -4302k -8636k
 Cushing -1242k   -1123k +549k -1165k
Gasoline

+1250k

+1500k +1845k +2122k
Distillate +6163k

+1800k

+3119k +5821k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization +1.0% to 97.6% Exp -0.3% 
  • Production -. 10 to 10.90k (11.00k bd (ATH) +14.7% 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

MW WTI W 9 8 18

WTI Crude Oil Futures Committment of Traders

 

 

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 

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 $1.148 billion per day for gasoline last week. That is $63.4 million more dollars per day than same week last year.  

US gasoline avg retail price was $2.833 per gallon. That is 14.8 cents more per gallon YoY.  

US consumers bought 405.26 million gallons of gasoline per day last week. 

US Oil Field Production Drops From ATH 

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

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