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Following Hurricane Barry the EIA reported another huge draw in crude of -8496k bbls. Cushing showed a draw of -1533k bbls. US production rose on the Barry shutdowns returning 900k to 12.20 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: 7/24/19

  • via TradersCommunity.com
  • Release Time: Wednesday July 31 2018 -10.30 ET
EIA Expected Prior EIA API
Crude -8496k -4600k -10835k -6024k
Cushing --1533k -1500k -429k
-1449k
Gasoline

-1791k

-2700k -226k -3135k
Distillate -894k

-900k

+613k -890k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -.2% at 93.0% Exp -0.5%
  • Production -+900k to 12.20 mbpd (12.40 ATH)

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

API Crude Inventories

 

Weekly Global Oil Prices

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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:

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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 $1,090 million dollars per day for gasoline last week. That is -90.70 mil YoY.

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US avg retail price for gasoline was $2.715 last week. That is -13.1 cents YoY.

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US consumers bought 401.48 million gallons of gasoline per day last week. That is - 13.4 mil YoY

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US Oil Field Production of 11.20 OFF ATH 12.40 (Post Bounce of 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:

US Crude imports hit a 6 wk low of 6.66MMBD. Ven imports at 0 for the 10th wk in a row while Canada and Mexico continue to provide 60% of total imports

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EIA Products:

Products drew -1.6MM despite gasoline, distillates and fuel oil drawing by a combined -4.7MM. Other oil and propane continues builds continue to offset the draws. Low refinery runs helping product draws. However, high gasoline imports due to PES shutdown.

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EIA Crude Stats::

Bullish -8.5MM Crude draw despite refinery runs less than 17MMBD and crude exports at 2.57MMBD. However, crude draw helped by crude adjustment swings nearly by -1MMBD and imports at 6.66MMBD.

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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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