Oil & Energy

Google Ad

EIA reported another build in crude oil storage of +4740k bbls last week. Gasoline had a build of 3716k bbls with a build of 768k bbls in distillates last week. The shale revolution continues as production rosel 100k off record high to 12.20 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 5/15/19

  • via TradersCommunity.com
  • Release Time: Wednesday 22 May 2018 -10.30 ET
EIA Expected Prior EIA API
Crude +4740k -2100k +5431k +2400k
Cushing +1266k +793k +1805k
+871k
Gasoline

+3716k

-1500k -1123k +350k
Distillate +768k

-300k

+84k +240k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -0.6% to 89.9% Exp +0.9%
  • Production +100k to 12.20k 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 is a textbook in Ichimoku these last few weeks. come off Kijun 3 times as Tenkan gives support. Key now is the new pennant that has formed above the cloud.  Bank over tenkan (orange) closing the week with a bounce off the Kijun (pink) and lower pennant confluence.  Note the Adams theory in the last two spits. This week we have seen coiling between the 50dma and the Tenkan and channel.

MW WTI D 5 17 19

WTI from the weekly cloud above the 50wma (green) and Kijun Sen (pink) to bring chikou back in balance (blue) attracted to the cloud twist.  Tenkan remains support which we spat the week with the 50wma- watch Murrey confluence with the cloud acting as support.

MW WTI W 5 17 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

OILytics ‏ @OilyticsData

Non Oil Spec Length: Ongoing US-China wars takes a big hit on the overall commodity complex. Only gold showing a big weekly jump in spec length as risk-off assets gain support. While Copper, Soybeans and Corn are near multi-year lows as speculators avoid these assets.

ICE and CFTC Oil Net Spec Length: Brent drops for the first time in 10 weeks as longs reduce their length. Shorts are still at a record low. While WTI drops for the 3rd wk in a row. Gasoil gaining on possible run cuts in European refineries due to Urals quality issues

Ole S Hansen ‏ @Ole_S_Hansen

COT on #WTI and #Brent in week to May 14.

COT on commodities in week to May 14 showed across-the-board selling with gold being the most noticeable exemption.

 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 Vol May 2, 2019 NYMEX LO = CRUDE OIL OPTIONS ICE_North Sea BRN

via CommodityVol.com ‏ @CommodityImpVol 

Update of Brent & WTI Option Vol (Live Link)

WTI crude first, second third month atm vol May 2, 2019 NYMEX LO = CRUDE OIL OPTIONS

Atm vol: May 2, 2019 

NYMEX LO = CRUDE OIL OPTIONS NYMEX OH = NY HARBOR ULSD OPTION NYMEX OB = RBOB OPTIONS


 

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 $1,129.40 million dollars per day for gasoline last week. That is -60.1 mil YoY.

US avg retail price for gasoline was $2.852 last week. That is -.071 cents YoY.

 US consumers bought 396.02 million gallons of gasoline per day last week. That is -10.92 mil YoY

US Oil Field Production of 12.10 mbpd off ATH 12.30

US Crude Oil Production by State and API at February 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: -116
  • 25-30: -90
  • 30-35: +83
  • 35-40: +603
  • 40-45: +583
  • 45-50: +320
  • 50+: +82

** 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 down 669KBD w-o-w to go back below 7MMBD. Some Venezuela imports after no imports for 2 weeks. Strong stable flows from Canada continue.

EIA Product Stats:

Nothing bullish in these numbers as products build +12MM of which gasoline was +3.7MM. And this is despite lower refinery runs. Gasoline imports surged to record highs and demand is weak in the run up to Memorial Day weekend.

EIA Crude Stats:

BVery bearish numbers across the board, every product except Fuel Oil build. Crude +4.7MM of which SPR contributed +1.1MM. Adjustment factor remains very high, suggesting possible upward revisions to production. Refinery runs continue to underperform

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

Log in to comment
Discuss this article in the forums (2 replies).