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The EIA reported buids in crude of +2385k bbls and Gasoline of +4437k Bls. Cushing showed a draw of -1504k bbls. US production rose again on the Barry shutdowns returning 100k to 12.30 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: 7/31/19

  • via TradersCommunity.com
  • Release Time: Wednesday Aug 7 2019 -10.30 ET
EIA Expected Prior EIA API
Crude +2385 -2800k -8496k -3430k
Cushing -1529k -1570k -1533k
-1640k
Gasoline

+4437k

-700k -1791k -1110k
Distillate +1529k

-500k

-894k +1170k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization+3.4% at 96.4% Exp +0.5%
  • Production -+100k to 12.30 mbpd (12.40 ATH)

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

Global Crude Prices

 

API Crude Inventories

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WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

WTI finished inside the inner daily downtrend channel at the cloud base under tenkan,after much work with Kijun and 50 dma adding pressure. The heads up again was it back over Kijun even with 'Iran tests' and risk off mania. A C wave or a iii of I are the alternatives. Watch for spits now with fear in the pricing.

MW WTI D 8 2 19

WTI again finished the week under the weekly Kijun and 50wma (green) but ALSO under the Tenkan, We hang above the cloud base and chikou. Watch Murrey confluence with the cloud acting as support, failure.

MW WTI W 8 2 19

Crude Oil Futures Committment of Traders

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 $1,089.6 million dollars per day for gasoline last week. That is -30.00 mil YoY.

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US avg retail price for gasoline was $2.688 last week. That is -16.4 cents YoY.

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US consumers bought 405.34 million gallons of gasoline per day last week. That is - 12.81 mil YoY

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US Oil Field Production of 11.30 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:

Crude imports up 486KBD to reach 7149KBD. However, breakdown by top 10 countries only shows a net increase of 104KBD. Lowest Saudi volumes since data began in 2010. The US taking in crude from other countries to offset reduced middle eastern barrels

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EIA Products:

Very bearish numbers as total products +8.03MMBBLs to reach the highest product stock level since Oct-2017. Peak refinery runs will be bearish product for the next fwe weeks. 2nd wk of gasoline imports over 1mmbd due to PES shutdown

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EIA Crude Stats::

Very surprising to see crude stocks build 2.39MMBBLs when refinery runs are up +0.78MMBD. Crude exports at 1.86MMBD are the lowest levels seen this year. Another large adj factor change as it flips by over 1MMBD.

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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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