Oil & Energy

Google Ad

EIA reported a build in Crude, with a 991kbbl draw at at Cushing. Builds in distillate and gasoline. US production rose 500 kbpd to 11,000 mbpd, off record high of 13.10 mbpd. Futures are reacting to OPEC comments and risk off and production cut moves.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 6/17/20

  • via TradersCommunity.com
  • Release Time: Wednesday June 24 2020 - 10:30 ET
EIA Expected Prior EIA API
Crude +1442k +300k +1215k +1749k
Cushing -991k -1212k -2608k
-2605k
Gasoline

-1673k

-1200k -1666k -3856k
Distillate +249k

-600k

+1358k -325k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +0.8% to 74.60% Exp +1.1%
  • Production +500k to 11.00 mbpd (13.10 ATH)

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

Flotilla of Saudi Crude Tankers Where and When?

Saudis Turn Around ....Image

 https://pbs.twimg.com/media/EYCrIF8WAAYmLL8?format=jpg&name=small

 

Image

API and Cushing Crude Inventories

https://d3fy651gv2fhd3.cloudfront.net/charts/This email address is being protected from spambots. You need JavaScript enabled to view it.?s=apicrudeoil&v=202006232043V20191105 2x" src="https://d3fy651gv2fhd3.cloudfront.net/charts/united-states-api-crude-oil-stock-change.png?s=apicrudeoil&v=202006232043V20191105" alt="United States API Crude Oil Stock Change" style="color:White;">

CUSHING STORAGE is now just 68% full, down from a peak of 83% on May 1, which should ease concerns about a storage crisis around the NYMEX WTI delivery point. The area has capacity to store up to another +25 million bbl if necessary:via John Kemp @JKempEnergy

Image

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

US Crude Oil (WTI)

WTI retested the previous 161.8% extension after it completed it's A or 1 last week with impulse after its move higher after the violent wave 5 down had accelerated through the Tenkan 50 dma cross breaking the recent flag - we retested this week The reversal had been a sustained impulse off the tenkan which also gave away - that is now resistance.  Above is the 50dma. Count ABC for reversal.  Key is crowd behavior to help tell the story, ignorance into a slew of resistance. We watch ABC corrections from here.

WTI D 6 19 2020

WTI continues to push shorts after it exhibited extreme crowd behavior, a series of fractals. expected in algorithm dominated price action.  We have completed 5 waves as marked, from here we watch 3 develop to confrm. These are special times, recall "After we regained the pattern 261.8% from the extreme (-$40) move. The climax of the larger acceleration lower after broke the weekly uptrend, a fractal of the sharp and all the way to all time lows to negative pricing we have seen mirror replications." Support is previous channels, 50 wma,tenkan and Kijun. Above we have Murrey Math time and price.

WT W 6 19 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
 

 

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)

Image

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

Image

NYMEX LO NYMEX OH NYMEX OB Options (Live Link)

Image

NYMEX LO NYMEX OB Options (Live Link)

Image

The Fundamental Angle with Brynne Kelly ‏@BrynneKKelly

Image

Image

Image

Image


 

DigStic Data @DigStic

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


Image
Image

Image


 

RonH Data ‏@Ronh999

Image
 
 Image

Cushing Oil Stocks

Image

 NB: Check out Ron's great work at Ron H Public Tableau Link

US Oil Import Export

Imports

Image

Exports

Image
 

US Gasoline Consumers

Input to Refineries

Image

US consumers bought 361.50 million gallons of gasoline per day last week. That is -36.1 mil YoY

Image

US consumers spent $769.70 million dollars per day for gasoline last week. That is -$285.5 mil YoY.

Image

 US avg retail price for gasoline was $2.129 last week. That is -0.525 cents YoY 

Image
 

US Crude Oil Production

 US Oil Field Production 10.50 mpd 0ff ATH 13.10mpd

Image
 

Forecast Oil Production Matrix - HFI Research

Implied US oil production from this EIA report is 11 mb/d and headed for 10 mb/d. via @HFI_Research

Image

   ** 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:

Crude: Another set of record-breaking stats. Crude build of +19.2MM as crude stocks hit above 500MM for the first time since June 2017. Cushing +5.7MM and +15.66 in the last 3 weeks. Refinery runs continue to crater, the lowest level since Sept 2008.

Image

EIA Products:

EIA Products:Products build of +7.99MM as gasoline and disty build +4.9MM and +6.28MM. Demand in complete freefall as gasoline stocks hit record highs.

Image
 

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</

Log in to comment
Discuss this article in the forums (2 replies).