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The EIA reported a huge draw in crude of -9499k bbls higher than the -8129k API reported. Cushing showed a smaller draw of -310k bbls. US production rose again in the shale revolution now just 100k off the record high to 12.30 mbpd.

Cushing Storage Tanks

rose again in the shale revolution now just 100k off the record high to 12.30 mbpd.


The EIA reported a huge draw in crude of -9499k bbls higher than the -8129k API reported. Cushing showed a smaller draw of -310k bbls. US production rose again in the shale revolution now just 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: 7/3/19

  • via TradersCommunity.com
  • Release Time: Wednesday July 10 2018 -10.30 ET
EIA Expected Prior EIA API
Crude -9499k -3100k -1085k -8129k
Cushing -310k -760k +652k
-754k
Gasoline

-1455k

-1300k -1583k -257k
Distillate +3729k

-700k

+3690k -1700k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +0.5% at 94.8% Exp +0.2%
  • 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 after the 3 touches of the daily downtrend channel only to spit and reversed hard. This week we saw inconclusion but on Friday closed at the 50 dma under the Tenkan, Key are channel and 50 dma with Kijun tests.  A C wave or a iii of I are the alternatives. Watch for spits now with fear in the pricing.

MW CL D 7 5 19

WTI finished the week  over 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 7 5 19

Crude Oil Futures Committment of Traders

A reminder that CFTC’s weekly #CoT updates covering the week to July 2 are delayed until 3:30pm ET on Monday

Latest ICE and CFTC Open Interest Data:

CTFC and ICE open interest:

Speculators cut bullish #Brent crude #oil bets by 7k lots to 248k lots, a five-month low, during the wk to July 2. Demand worries cont. to outweigh geopolitical risks. The CFTC's delayed COT report due later today 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 July 5, 2019 NYMEX LO = CRUDE OIL OPTIONS 

via CommodityVol.com ‏ @CommodityImpVol 

Update of Brent & WTI Option Vol (Live Link)

Front month crude puts look offered over the last five days - July 10

Here is the skew pic over the first few contract months - July 10

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 $1,123.70 million dollars per day for gasoline last week. That is +10.80 mil YoY.

US avg retail price for gasoline was $2.743 last week. That is -11.40 cents YoY.

US consumers bought 409.66 million gallons of gasoline per day last week. That is +20.12 mil YoY

US Oil Field Production of 12.30 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:

Crude imports slight down to 7.3MMBD. Canada exporting near record levels last week at 3.9MMBD. While record amounts of Brazilian crude coming to the US as Brazilian production ramps up. #oott

 

EIA Product Stats:

Bullish gasoline (-1.4MM), bearish distillate (+3.7MM) numbers as refineries run at max levels. Gasoline demand and overall demand holding. Gasoline yield down due to PES refinery shutdown. Overall product stocks continue to build and are at 9-month highs.

EIA Crude Stats:

A larger than expected draw of -9.5MM as adjustment factor turns negative for the first time in 9 weeks and swings 0.8MMBD. Strong refinery runs of 17.4MMBD despite the PES shutdown. Imports and exports relatively changed w-o-w

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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