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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: 8/7/19

  • via TradersCommunity.com
  • Release Time: Wednesday Aug 14 2019 -10.30 ET
EIA Expected Prior EIA API
Crude +1580k -2800k -+2385k +3700k
Cushing -2540k -2370k -1529k
-2500k
Gasoline

-1412k

-100k +4437k +3700k
Distillate -1934k

+1000k

+1529k -1300k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -1.6% at 94.8% Exp +0.5%
  • Production  UNCH 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 sold off the tenkan hard but bounced with impulse off a daily triple bottom, still finished inside the inner daily downtrend channel well under the cloud base under tenkan,after much work with Kijun and 50 dma adding pressure. Watch for spits now with fear in the pricing.

MW WTI D 8 9 19

WTI again finished the week under the weekly Kijun, 50wma (green) and Tenkan,  After strong impulse higher it closed at the cloud base back to the Chikou. Expect more work and volatility. Watch Murrey confluence with the cloud acting as support, failure.

MW WTI W 8 9 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

NYMEX LO = Crude Oil Options First 3 Months (Live Link)

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NYMEX LO & ICE North Sea Brent BRN Crude Oil Options (Live Link)

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NYMEX LO NYMEX OH NYMEX OB Options (Live Link)

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NYMEX LO NYMEX OB Options (Live Link)

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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

 

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

 

US Oil Input Into Refineries Per Day

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US consumers spent $1,094.6 million dollars per day for gasoline last week. That is -41.20 mil YoY.

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US avg retail price for gasoline was $2.624 last week. That is - 21.9 cents YoY.

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US consumers bought 417.14 million gallons of gasoline per day last week. That is +17.64 mil YoY

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US Oil Field Production of 11.30 OFF ATH 12.40 

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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:

Overall imports up +565KBD to reach a 10 wk high. Canadian and Mexican imports contribute to over half that weekly gain. Weekly jump from Saudi as well +279KBD, however 4 wk average continues to remain low

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EIA Products:

Products +0.8MM as Propane and Other Oils once again offset the gasoline and distillate draws. Very strong total product demand which is helping draws even when runs are over 17MMBD.

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EIA Crude Stats::

Crude stock +1.58MM as refinery runs drop -475KBD from last week's peak levels. Imports surprisingly +565KBD but increased exports of +818KBD offsets that. Cushing stocks hit near a 4month low.

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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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