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EIA reported crude oil storage draw of -8647k bbls but another big build at Cushing of +1628k bbls last week. The shale revolution continues with production a new record high at 12,10 mbpd ATH.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 2/20/19

  • via TradersCommunity.com
  • Release Time: Wednesday 27 February 2018 -  10.30 ET 
EIA Expected Prior EIA API
Crude -8647k  +2800k +3672k  -4200k
 Cushing +1628k +1888k  +3413k +2000k
Gasoline

-1906k

-1700k -1454k -3800k
Distillate -304k

-2000k

-1517k +400k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization +1.2% to 87.1% Exp +0.3%
  • Production  +.100bd to 12.10k bd NEW ATH (+24% y/y)

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

 Global Oil Prices

Weekly Global Oil Prices: Dubai crude trades at a slight premium to Brent for the first time in 3.5 years as sour crude tightness continues. While North American crude benchmarks all showed weekly declines. via OILytics @OilyticsData Feb 10

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

MW WTI W 2 22 19

MW WTI W1 2 22 19

Crude Oil Futures Committment of Traders

Latest ICE Open Interest Data: 6th weekly consecutive increase for Brent and Gasoil. Brent up +32K contracts (up +130K since the lows seen in December). Via OILytics ‏ @OilyticsData

 

With the Government Shutdown these reports have not been available from the CFTC however ICE does have it's weekly reports.

 

COT on commodities in wk to Feb 5. (Another two weeks before the CFTC will be up to date).

#Gold and #silver bought despite weaker post-FOMC price action. #Copper short reduced by 55% while #WTI saw fresh short selling after just 3 weeks of buying.  Via Ole S Hansen ‏ @Ole_S_Hansen 

 

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 

Brent WTI Option Vol  February 21, 2019 NYMEX LO = CRUDE OIL OPTIONS ICE_North Sea BRN

via CommodityVol.com ‏ @CommodityImpVol 

The Fundamental Angle with Brynne Kelly ‏@BrynneKKelly

  

DigStic Data @DigStic




 

 

RonH Data ‏@Ronh999

US Oil Exports Hit Back Off ATH.

US Oil Imports Week Over Week 

U.S. Gulf I, (PADD3) Imports of Canadian Crude 

 

US Oil Input Into Refineries Per Day 

US consumers spent $901.50 million per day for gasoline last week. That is -$46.7 million less dollars per day than same week last year.  

US gasoline avg retail price was $2.39 per gallon, -15.8 cents less per gallon YoY.  

US consumers bought 377.20 million gallons of gasoline per day last week.

 US Oil Field Production ATH of 12.10 mbpd

US Crude Oil Production by State and API at November 2018 via OILytics‏ @OilyticsData   

 

 Cushing Oil Stocks

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

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

OILytics @OilyticsData

EIA Crude Imports by Country:

Crude imports plunge to recent lows which is contributing to the surprise draw. Most countries supplying less to US. Canada at 3MMBD this week, while Saudi at 346KBD. Both countries supplying 1MMBD lower than its recent peak

EIA Product Stats:

Hefty products draw of -9.2MM, however out of which Gasoline is -1.9MM and Disty is -0.3MM. Gasoline stocks now back in the 5 yr range as output drops on lower refining runs. Disty demand remain healthy while gasoline demand struggles

 

EIA Crude Stats:

Huge surprising -8.6MM draw as imports plunged and exports remain above 3MMBD for the 2nd consecutive week. Net imports at a record low of 2.56MMBD. On the bearish side, production at 12.1MMBD. Second consecutive weekly increase of 100KBD.

 

US Crude Oil Prices and Recessions

 

Via John Kemp @JKempEnergy 

Key EIA and CME Dates For WTI Crude Oil

CME Crude Oil Futures Calendar

CME Crude Oil Options Calendar

REGULAR & HOLIDAY RELEASE SCHEDULE

From TradersCommunity Research

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