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EIA reported a build in Gasoline for the first time in 11 weeks crude oil storage built 9934k bbls. Gasoline had a build of 917k bbls with a draw of -662k bbls in distillates last week. The shale revolution continues BUT production back up 100k to record high of 12.30 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 4/24/19

  • via TradersCommunity.com
  • Release Time: Wednesday 1 May 2018 -10.30 ET
EIA Expected Prior EIA API
Crude +9934k +1100k +5479k +6808k
Cushing +265k +243k +463k
+1353k
Gasoline

+917k

-1300k -2129k -1055k
Distillate -1307k

-100k

-662k -2058k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -0.9% to 89.2% Exp +0.9%
  • Production +100k to 12.30k bd (12.30 ATH)

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

API Crude Inventories

Weekly Global Oil Prices

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

The daily WTi reversed back inside the pennant and accelrated lower though the tenkan (orange) closing the week with a bounce off thr Kijun (pink) and lower pennant confluence. The question is of degree in the 5 of the C.

MW WTI D 4 26 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 26 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data: The shorts keep retreating. Brent net spec length now up 15 out of the last 16 weeks. via OILytics ‏ @OilyticsData Mar 31

ICE and CFTC Product Spec Length: RBOB net spec length drops off -3K contracts, but long/short ratio still at a lofty 35:1. Gasoil spec length gained 10K contracts even though cracks hit the lowest levels since Jul-1

 

In the wk to April 23 the combined speculative long in #Brent and WTI oil reached 711k lots, the highest since Oct 9. Fundamentals remain supportive but recent buyers may see a short-term technical challenge following Friday's ugly close.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 $1,118.90 million dollars per day for gasoline last week. That is +32.40 mil YoY.

US avg retail price for gasoline was $2.887 last week. That is +0.041 cents YoY.

 US consumers bought 387.58 million gallons of gasoline per day last week. That is +5.8 mil YoY

US Oil Field Production of 12.30 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:

Total Crude imports up +266KBD, despite lower exports from Saudi. Saudi exports down -293KBD w-o-w which is partially offset by increase in Iraqi crude +246KBD.

EIA Product Stats:

Gasoline builds for the first time in 11 weeks as gasoline yield spike 2.5% after remaining low for the last 3 weeks. Gasoline demand remains healthy while Distillate demand has dropped after a strong Q1.

EIA Crude Stats:

Big +9.9mln crude build as crude stocks reach the highest levels since Sept-2017. Production up +100KBD w-o-w, imports up +266KBD, exports and adj factor fairly unchanged. Refinery runs continue to remain depressed and an SPR release of 0.5MMBBLS

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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