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Heading into G20 EIA reported a draw in crude of 12788k bbls higher than what API reported. Cushing showed a draw of 1746k bbls.. US production actually fell for the third week in a row this week in the shale revolution another100k off the record high to 12.10 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 6/19/19

  • via TradersCommunity.com
  • Release Time: Wednesday June 26 2018 -10.30 ET
EIA Expected Prior EIA API
Crude -12788k -2500k -3106k -7550k
Cushing -1746k -820k +643k
-1260k
Gasoline

-996k

+300k -1692k -3170k
Distillate -2441k

+500k

-551k +106k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +0.3% to 94.3% Exp +0.9%
  • Production -100k to 12.10k 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

Since WTI reversed hard through the 61.8% Fib and gaining energy after the Kijun tests impulse picked up, is this a C wave or a iii of I are the alternatives. WE closed right around the 50 dma at weeks end. Watch for spits now with fear in the pricing.

MW CL D 6 21 19

WTI spat hard last week to close at the weekly Kijun, this week we saw it give way and the impulse that resulted. Above we have tenkan, cloud and 50wma (green) as key resistance, 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 21 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

CTFC and ICE open interest: 6th consecutive weekly drop in Speculative Length for Brent. While WTI gains by 17K contracts after cumulatively dropping 185K contracts over the last 7 weeks. Brent long/short ration at 5.4:1 compared to a 52 wk high of 19:1. ‏ @OilyticsData

Weekly commodity gains led by Gold and Oil surge on FOMC and Middle East tensions. via Ole S Hansen @Ole_S_Hansen

Hedge funds increased bullish bets on 24 commodities by 44% in wk to June 18. Led by WTI gold (14-mth high) soybeans corn (12 mth high) wheat and sugar. The NatGas short hit 3-1/2 yr high. via Ole S Hansen @Ole_S_Hansen

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

WTI Vol June 26, 2019 NYMEX LO = CRUDE OIL OPTIONS 

via CommodityVol.com ‏ @CommodityImpVol 

Update of Brent & WTI Option Vol (Live Link)

WTI crude first, second third month atm vol June 23, 2019 NYMEX LO = CRUDE OIL OPTIONS

Atm vol: June 23, 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 NEW ATH.

US Oil Imports Week Over Week

US Oil Input Into Refineries Per Day

US consumers spent $1,055.20 million dollars per day for gasoline last week. That is -14.40 mil YoY.

US avg retail price for gasoline was $2.654 last week. That is -17.90 cents YoY.

 US consumers bought `397.57 million gallons of gasoline per day last week. That is -11.13 mil YoY

US Oil Field Production of 12.10 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:

Crude Imports down 811KBD of which Canada contributed 469KBD. However, 4 wk avg of Canadian imports remain strong. Ven exports continue to remain at zero while 4 wk avg of Colombian is near an 18mth high. #OOTT

EIA Product Stats:

Slight build in overall products despite -1MM and -2.4MM draw in gasoline and disty, as propane and other oil builds continue to offset that. Very strong exports and good gasoline demand offsetting the ramp up in refinery runs.

EIA Crude Stats:

A huge -12.8MM draw as crude production declines by 100KBD for the 3rd week in a row, despite a high adjustment factor. Record high crude export number and the 5th wk in a row when its above 3MMBD.

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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