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In a volatile trading week EIA reported  builds in crude and gasoline but lower than what API reported. Cushing showed another large build with 2096k bbls.. US production actually fell this week in the shale revolution 100k off the record high to 12.30 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 6/5/19

  • via TradersCommunity.com
  • Release Time: Wednesday June 12 2018 -10.30 ET
EIA Expected Prior EIA API
Crude +2206k -500k +6771k +4852k
Cushing +2096k +2114k +1791k
+2365k
Gasoline

+764k

+100k +3205 +829k
Distillate -1000k

+1200k

+4572k -3461k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +1.4% to 93.2% Exp +0.9%
  • Production -100k to 12.30k bd (12.40 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

WTI reversed hard through the 61.8% Fib after breaking down after retesting the cloud and getting the 'kiss of death' on the Tenkan/kijun touch.The Daily ABC, B or ii) broke with impulse testing the breakup level Feb. Both the Tenkan and Kijun have flattened above.

MW CL D 6 7 19

WTI spat hard to close the week at the weekly Kijun. Stil finished the week under the 50wma (green) and Tenkan, was rare to see Kijun Sen (pink) penetrated with chikou overshoot - so we got the expected  retest there to bring chikou back in balance (blue) - watch Murrey confluence with the cloud acting as resistance.

MW CL W 6 17 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

4th weekly drop for Brent and WTI down for 6 weeks in a row. A sharp drop in spec length for Brent as prices briefly dropped below $60. WTI spec length at seasonal lows.

WTI COT 6 4 19

OILytics ‏ @OilyticsData 

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 Vol May 31, 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 31, 2019 NYMEX LO = CRUDE OIL OPTIONS

Atm vol: May 31, 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 $1,133.30 million dollars per day for gasoline last week. That is +74.5 mil YoY.

US avg retail price for gasoline was $2.732 last week. That is -19.90 cents YoY.

 US consumers bought 414.83 million gallons of gasoline per day last week. That is -0.09 mil YoY

US Oil Field Production of 12.30 OFF ATH 12.40

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:

US Crude imports -0.3MMBD w-o-w but still above 7.5MMBD for the 2nd wk in a row. Ven exports to 0 for the 3rd wk in a row while Saudi exports trend down. However, US imported 60% of its crude from Canada + Mexico this week.

EIA Product Stats:

Another bearish products number as they build 7MMBBLs (+4.2 other oil, Propane +2.8, Gasoline +0.7 Disty -1). Overall product stocks at the highest level in 9 months and has built 55MMBBLs in 9 weeks.

EIA Crude Stats:

Crude build of 2.2MMBBLs, surprising to see crude builds when refinery runs are over 17MMBD and exports above 3MMBD. Crude stocks at the highest level since October 2017 and is 53MMBBLs higher than this time last year. Drop in adjustment factor to 590KBD.

 

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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