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EIA reported Crude oil inventories drew -2732k bbls with Gasoline and Distillates showing builds. Cushing showed another large draw of -2485k bbls. US production was unchanged at 12.30 mbpd, just 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: 8/14/19

  • via TradersCommunity.com
  • Release Time: Wednesday Aug 21 2019 -10.30 ET
EIA Expected Prior EIA API
Crude -2732k -1900k +1580k -3454k
Cushing -2485k -2670k -2540k
-2803k
Gasoline

+312k

+100k -1412k -403k
Distillate +2610k

+600k

-1934k +1806k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +1.1% at 95.9% Exp +0.5%
  • ProductionUNCH12.30 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 kijun hard but bounced off the daily tenkan, still finished inside the outer daily downtrend channel well under the cloud base under Kijun and 50 dma adding pressure. Watch for spits now with fear in the pricing.

MW WTI D 8 16 19

WTI again finished the week under the weekly Kijun, 50wma (green) and Tenkan,at the bottom of the cloud after rejecting 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 16 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

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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 $1,054.4 million dollars per day for gasoline last week. That is -69.6 mil YoY.

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US avg retail price for gasoline was $2.598 last week. That is - 22.3 cents YoY.

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US consumers bought 404.29 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 

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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:

 

EIA Products:

: Bearish product numbers as total products build +4MM. Max refinery runs is helping product stocks reach seasonal highs. US demand dipped from last week's peak levels.

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EIA Crude Stats::

Refinery runs reach 17.7MMBD (2nd highest level this year and despite the shutdown of PES refinery) helping crude stocks draw -2.73MMBBLs. Crude production flat for the 3rd wk in a row. While Cushing stocks reach a 6 month 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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