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EIA reported for the fourth week in a row that crude oil inventories grew,  +2927k bbls with Gasoline and Distillate draws last week. Cushing grew +940k bbls. US production new record high with 12.60 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 10/9/19

  • via TradersCommunity.com
  • Release Time: Thursdday Oct 17 2019 -11.00 ET
EIA Expected Prior EIA API
Crude +9281k +2800k +2972k +10451k
Cushing +1276k +1335k +940k
+1648k
Gasoline

-2532k

-140k -1213k -934k
Distillate -3823k

-2200k

-3943k -2862k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -2.6% at 84.1% Exp -0.5%
  • Production UNCH  to 12.60 mbpd (12.50 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

After WTI filled the gap without any resistance quickly completing a fractal spit per Adam's Theory it has built an ABC or 1-2 i ii of 3 in conconsolidation with the $ES_F supporting reflecting mindless speculation from the herd. From there CL_F is trying found balance with the chikou and popped the tenkan with Kijun and 50 dma above. The impulse meant a C or (Y) complete - bullish case would be a developing X 

MW CL D 10 11 19
 

After WTI spat the weekly 61.8% momentum continued with power through the gap up and Reversed back under Tenkan, Kijun and 50wma (green) under the cloud after rejecting the break retest from there we have found support at previous spit zone get back out with tenkan, Kijun and 50wma all above.

 MW CL W 10 11 19

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

CTFC and ICE open interest: via Ole S Hansen @Ole_S_Hansen

The net-long in #WTI plunged by 32%, the most since August 2017, with longs being cut and fresh shorts added.


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The combined net-long in WTI (-63k lots) and Brent (17k lots) crude #oil slumped by 17% to 389k lots, an eight-month low. This as the economic growth cloud darkened and the risk premium following the Saudi Aramco attack was wiped out.

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Speculators cut bullish bets across 24 major commodity futures by one quarter to 265k lots in wk to Oct 1. A stronger $USD, demand worries and reduced geopolitical risks helped attract sellers to oil gold and copper while continued short-covering supported agriculture

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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 Import Export

Imports

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Exports

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US Gasoline Consumers

US consumers bought 392.87 million gallons of gasoline per day last week. That is +7.23 mil YoY

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US consumers spent $1,032.8 million dollars per day for gasoline last week. That is -$77.5 mil YoY.

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US avg retail price for gasoline was $2.6629 last week. That is -25.0 cents YoY

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US Crude Oil Production

 US Oil Field Production +200bpd NEW ATH 12.60bpd

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** 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:

EIA Crude Stats::

 

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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