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Following OPEC EIA reported a draw in crude of -1085k bbls lower than what API reported. Cushing showed a builld of 652k bbls. US production rose after falling for three weeks in a row in the shale revolution 100k off the 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: 6/28/19

  • via TradersCommunity.com
  • Release Time: Wednesday July 3 2018 -10.30 ET
EIA Expected Prior EIA API
Crude -1085k -3300k -12788k -5000k
Cushing +652k +520k -1746k
+882k
Gasoline

-1583k

-2200k -996k -387k
Distillate +1408k

-1000k

-2441k -1700k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +0.0% at 94.3% Exp +0.9%
  • Production +100k to 12.20k 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 had 3 touches of the daily downtrend channel only to spit and reversed hard  Friday to test the 50 dma while Kijun crossed through Tenkan below, Key are channel and 50 dma with Kijun tests. Expect volatility with OPEC. 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 28 19

WTI spat hard to close at the weekly Tenkan and under 50wma (green), now as key resistance with channel, 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 28 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

CTFC and ICE open interest: 

8th consecutive drop for WTI spec length and 7th consecutive drop for Brent. The longs continue to flee the market in Brent and WTI. While Brent shorts hit a 5 month high. ‏ @OilyticsData

In WTI crude oil both long and short positions were cut with the latter falling to 205k lots, the lowest since January 2013 via Ole S Hansen @Ole_S_Hansen

The combined #Brent and #WTI crude oil long was reduced by 18k lots to 400k lots, a three-months low.

CoT on #commodities in wk to June 25 showed cont. buying of #gold, #silver, #copper #grains and #sugar. The comb. #oil long was cut to an 18-wk low while the #natgas short reached a near 4-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 Coming BAck After NEW ATH.

US Oil Imports Week Over Week

US Oil Input Into Refineries Per Day

US consumers spent $1,081.60 million dollars per day for gasoline last week. That is -97.20 mil YoY.

US avg retail price for gasoline was $2.713 last week. That is -13.10 cents YoY.

US consumers bought 398.66 million gallons of gasoline per day last week. That is -15.84 mil YoY

US Oil Field Production of 12.10 OFF ATH 12.40

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

Crude Production by state and API: Data updated until  April-19. L48 monthly production growth y/y at 1708KBD

Y-o-Y production growth (KBD):

  • API 25 and lower: +22
  • 25-30: +98
  • 30-35: +105
  • 35-40: +479
  • 40-45: +522
  • 45-50: +428
  • 50+: +60

** 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:

EIA Product Stats:

5th consecutive wk of product builds despite gasoline drawing as propane and other oils keep building. Strong gasoline and overall demand and lower y-o-y refiner runs helping gasoline stocks.

EIA Crude Stats:

Small crude draw of -1.09MM as exports drop below 3MMBD for the first time in 6 weeks. Huge jump in crude imports (0.9MMBD). Refinery runs drop w-o-w due to PES fire while production was back up 100KBD after dropping for the last 3 weeks.

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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