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EIA reported a build in crude oil storage of 5479k bbls. Gasoline drew -2129k bbls with a draw of -662k bbls in distillates last week. The shale revolution continues BUT production back up 100k to record high of 12.20 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 4/17/19

  • via TradersCommunity.com
  • Release Time: Wednesday 24 April 2018 -10.30 ET
EIA Expected Prior EIA API
Crude +5479 -200k -1396k +6860k
Cushing +463k -443k -1543
-389k
Gasoline

-2129k

-300k -1174k +2163k
Distillate -662k

-1300k

-362k -865k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +2.40% to 90.1% Exp +0.9%
  • Production +100k to 12.20k bd (12.20 ATH)

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

 API Crude Inventories

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

The daily WTi closed inside the channel/flag after again at the Chikou (blue) afte holding the Tenkan (orange) the initial range, impulse needed to get through support didnt happen. The question is of degree in the 5 of the C.

MW WTI D 4 19 19

WTI rests in the cloud on the weekly after spat the previous break retest from a year ago and back through the 50wma (green) and Kijun Sen (pink) to bring chikou back in balance (blue) . Tenkan remains support - watch Murrey confluence with cloud above.

MW WTI W 4 19 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data: The bullish spec length positioning continues with Brent net spec length up 11 times in the last 12 weeks. via OILytics ‏ @OilyticsData Mar 31

ICE and CFTC Product Spec Length:

Spec Length has more than doubled since the beginning of this year, as risk appetite increases in the 4 main oil contracts

Leveraged Funds held the following positions in #commodities on April 9.Via Ole S Hansen ‏ @Ole_S_Hansen

 

 Understanding DCOT Reports

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 

Crude Oil Option Volatilty Watch via commodityvol.com

 

Brent WTI Option Vol 4 17 19

Brent/WTI Vol April 17, 2019 NYMEX LO = CRUDE OIL OPTIONS ICE_North Sea BRN

via CommodityVol.com ‏ @CommodityImpVol 

Update of Brent & WTI Option Vol (Live Link)

CRUDE OIL OPTIONS

Apr 18, 2019 LO K[16] 2019 Vol= 0.2095 Strike= 64 LO M[17] 2019 Vol= 0.2216 Strike= 64 LO N[17] 2019 Vol= 0.2311 Strike= 64 LO Q[15] 2019 Vol= 0.2304 Strike= 64

NY HARBOR ULSD OPTION

Apr 18, 2019 OH J[25] 2019 Vol= 0.1604 Strike= 2.07 OH K[28] 2019 Vol= 0.1915 Strike= 2.07 OH M[25] 2019 Vol= 0.1967 Strike= 2.09 OH N[26] 2019 Vol= 0.1990 Strike= 2.11

The Fundamental Angle with Brynne Kelly ‏@BrynneKKelly

 

DigStic Data @DigStic



RonH Data ‏@Ronh999

Cushing Oil Stocks

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

US Oil Exports Back Off ATH.

US Oil Imports Week Over Week

US Oil Input Into Refineries Per Day

US consumers spent $1,122.70 million dollars per day for gasoline last week. That is +55.30 mil YoY.

US avg retail price for gasoline was $2.841 last week. That is +0.043 cents YoY.

 US consumers bought 395.18 million gallons of gasoline per day last week. That is +16.69 mil YoY

US Oil Field Production of 12.10 mbpd off ATH

US Crude Oil Production by State and API at January 2019 via OILytics‏ @OilyticsData   

Crude Production by state and API: Data updated until Jan-19. L48 monthly production drops for the first time in 8 months.

Y-o-Y production growth (KBD):

  • API 25 and lower: -1
  • 25-30: -146
  • 30-35: +311
  • 35-40: +484
  • 40-45: +769
  • 45-50: +349
  • 50+: +122

 ** 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:

With crude imports below 6MMBD this week and near multi year lows, only Canada, Mexico and Brazil is exporting similar amounts to the US like last year. Rest of exporters all taking a hit.

EIA Product Stats:

9th weekly consecutive draw for gasoline despite yield jumping up 2% and imports rising. Low refinery runs benefiting product stocks. Huge drop in distillate demand surprisingly.

EIA Crude Stats:

-1.4MM crude draw as crude imports plunge below 6MMBD for the 2nd time this year. Unexpected crude production drop of 100kbd and refinery struggle to pick up and now down almost 1MMBD y-o-y.

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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