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Following Hurricane Barry the EIA reported a huge draw in crude of -10835k bbls with small changes in gasoline and distillates. Cushing showed a draw of -429k bbls. US production fell on the Barry shutdowns 700k to 11.30 mbpd  off the record high of 12.40 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 7/17/19

  • via TradersCommunity.com
  • Release Time: Wednesday July 24 2018 -10.30 ET
EIA Expected Prior EIA API
Crude -10835k -4000k -3116k -10961k
Cushing --429k -560k -1351k
-448k
Gasoline

-226k

-700k +3565k +4436k
Distillate +613k

+500k

+5686k +1420k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -1.3% at 93.2% Exp -0.5%
  • Production -700k to 11.30 mbpd (12.40 ATH)

Summary of Weekly Petroleum Data for the Week (Live Link)

API Crude Inventories

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Weekly Global Oil Prices

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

WTI broke the inner daily downtrend channel and cloud to break the tekan and test the cloud bottom  run to the second channel after running through the 50 dma crossing though the Tenkan, We failed to get back over Kijun even with 'Iran 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 19 19

WTI again finished the week under the weekly Tenkan, Kijun and 50wma (green), now as key resistance outer channel, We tested the cloud base and closed at the chikou. Watch Murrey confluence with the cloud acting as support, failure.

MW CL W 7 19 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

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DigStic Data @DigStic



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RonH Data ‏@Ronh999

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Cushing Oil Stocks

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NB: Check out Ron's great work at Ron H Public Tableau Link

US Oil Exports Coming Back After NEW ATH.

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US Oil Imports Week Over Week

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US Oil Input Into Refineries Per Day

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US consumers spent $1,1172.20 million dollars per day for gasoline last week. That is -53.50 mil YoY.

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US avg retail price for gasoline was $2.755 last week. That is -8.1 cents YoY.

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US consumers bought 406.27 million gallons of gasoline per day last week. That is -7.26 mil YoY

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US Oil Field Production of 11.30 OFF ATH 12.40 (Blame Barry)

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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:

Crude imports down -470KBD. Canada down -410KBD but 4 wk average remains high. Zero imports from Venezuela an Kuwait but volumes from Nigeria return.

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EIA Products:

Very bearish product numbers as it builds +14.7MM to reach near 5 yr seasonal highs. Distillates build +5.7MM as demand and exports drop while yield remains high. A lot of noise however due to TS Barry.

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EIA Crude Stats:

: Crude draws -31.MM while big product builds of +14.8MM. Storm Barry expected to make the next two weeks reports volatile. Production down -300KBD while adj factor swings +997KBD.

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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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