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EIA reported another big build in crude storage. Last week EIA reported the first draw in six weeks. Crude oil inventories build +5702k bbls the government agency said. Gasoline and Distillate both drew last week. Cushing grew again with +1572k bbls. US production stayed at the 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: 10/23/19

  • via TradersCommunity.com
  • Release Time: Thursdday Oct 30 2019 -10.30 ET
EIA Expected Prior EIA API
Crude +5702k +500k -1699k -700k
Cushing +1572k +1485k +1506k
+1200k
Gasoline

-3037k

-2200k -3107k -4700k
Distillate -1032k

-2400k

-2715k -1600k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +2.5% at 87.7% 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 consolidation with the $ES_F supporting reflecting mindless speculation from the herd. From there CL_F is trying to find balance with the chikou and popped the tenkan, Kijun and 50 dma above. The impulse meant a C or (Y) complete - bullish case would be a developing X 

MW CL D 10 25 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, This week we are back retesting after we have found support at previous spit zone get back out.

 MW CL W 10 25 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

COT on crude oil in wk to Oct. 15. Hedge funds cut bullish bets in WTI and Brent by 11.5k lots to 290k lots, a 9-mth low. The current range bound behavior sapped interest with long and short positions in both being scaled back


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WCU Oil and gold stabilize during a quiet week

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COT on commodities in wk to Oct. 15 showed continued demand for agriculture futures with rade talks and weather in focus. Biggest casualties were oil natgas gold silver and coffee

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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 410.93 million gallons of gasoline per day last week. That is +21.93 mil YoY

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US consumers spent $1,066.8 million dollars per day for gasoline last week. That is -$26.7 mil YoY.

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US avg retail price for gasoline was $2.596 last week. That is -21.5 cents YoY

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US Crude Oil Production

 US Oil Field Production 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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