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EIA reported draws in crude and distillate storage with a build in gasoline. Crude oil inventories drew -405k bbls the government agency said. Cushing drew -961k bbls. US production sat at the new record high of 13.00 mbpd

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 1/15/20

  • via TradersCommunity.com
  • Release Time: Thursday Jan 23 2020 -11.00 ET
EIA Expected Prior EIA API
Crude -405k -1000k --2549k +1570k
Cushing -961k -818k +342k
-429k
Gasoline

+1745k

+1300k +6678k +4510k
Distillate -1185k

+1000k

+8171k +3490k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization -1.3% 90.5% Exp +0.5%
  • Production UNCH 13.00 mbpd (13.00 ATH)

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

Global Crude Prices

 

API Crude Inventories

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

WTI still working through the fall out from the rip and fail on Iran news. Math and crowd behavior tell the story right to the +2/8 and collapsed back to the break up. From here question is was the higehr C complete? Resistane tenkan, Kijun and 50 dma zone over the cloud. Rebalancing Chikou and MM 8/8 gave us overbought caution but we had the manic thrust.  Watch the channel. The impulse meant a C or (Y) complete.

WTI D 1 17 2020

WTI rally shape is correctional after the sharp impulse higher and reversal through 50 WMA and the cloud top key supports remain Kijun and 50wma confluence (green) all failed aftet the violent spike up. Resistance channel and fib conflageration with MM 4.8
 WTI W 1 17 2020

 

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 Jan 7.

Comb. net-long in Brent (+15k) and WTI (5k) #crudeoil reached 714k lots, a 15-mth high, following the US killing of #Soleimani. The 50% long jump since the Dec 6 OPEC+ cut left many recently established bets under water when focus switched to de-escalation #OOTT

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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

Dec 11 2019 - Two Top Tens this week. One a draw in Cushing, the other a build in Total Products.


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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 363.80 million gallons of gasoline per day last week. That is -8.66 mil YoY

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US consumers spent $923.8 million dollars per day for gasoline last week. That is +$84.60 mil YoY.

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US avg retail price for gasoline was $2.537 last week. That is +28.60 cents YoY

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US Crude Oil Production

 US Oil Field Production Back ATH 13.00bpd

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 September Field Oil Production Hits a New High 12.463 mpd

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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 Products: Bearish gasoline and disty numbers. Disty +8.7MM, Gasoline +3.2MM while total products +8.5MM. Ref runs up +300KBD while 4 wk avg demand continues to tick down. End 2019 Gasoline and disty stocks both are higher y-o-y.

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EIA Crude: A huge -11.4mln crude draw but the bullishness offset by a +8.57mm product build. Record-high crude exports of 4.46MMBD helped with the large draw. Prodn unch while crude runs back above 17mmbd for the first time since early Se

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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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