Oil & Energy

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Energy markets focused on dual Hurricanes heading into the Gulf of Mexico. EIA reported a draw in crude oil of -4689kbbl, a draw of  -279kbbl at Cushing.  Draw in gasoline -4583kbbl. US production was at 10,800 mbpd, off record high of 13.10 mbpd.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 8/21/20

  • via TradersCommunity.com
  • Release Time: Wednesday August 28 2020 - 10:30 ET
EIA Expected Prior EIA API
Crude -4689k -3700k -1632k -4524k
Cushing -279k -496k -607k


-1500k -3322k -6392k
Distillate +1338k


+152k +2259k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +1.1% to 82.0% Exp +0.5%
  • Production +100 to 10.80 mbpd (13.10 ATH)

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

Flotilla of Saudi Crude Tankers Where and When?

Saudis Turn Around ....


API and Cushing Crude Inventories

United States API Crude Oil Stock Change

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


WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

In any break key is crowd behavior to help tell the story. We watch ABC corrections from here. he March breakdown, Support Tenkan and Kijun. In any break key is crowd behavior to help tell the story. We watch ABC corrections from here.

WTI D 8 21 2020

WTI after it's huge run continues to rebalance chikou indicative of extreme crowd behavior in a series of fractals. We have completed 5 waves as marked, from here we watch 3 develop to confirm.

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, tenkan and Kijun. Above we have 50wma and Murrey Math time and price Above we have 50wma and Murrey Math time and price.

WTI W 8 21 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

Speculators cut bullish WTI (-15.8k) and Brent (-20.9k) crude oil bets to 538k, a ten-week low, in wk to July 28. A 9% jump in natgas helped increase the net-long to a 16-mth high at 196k lots


In the week to July 28 where the BCOM index rose 2%, speculators cut length across the major contracts of #oil #gold #silver #soybeans and #corn. They increased exposure in #natgas, #copper and #sugar while cutting short positions in SoyMeal, #cocoa and #coffee


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)


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




NYMEX LO NYMEX OB Options (Live Link)


The Fundamental Angle with Brynne Kelly ‏@BrynneKKelly






DigStic Data @DigStic

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




RonH Data ‏@Ronh999


Cushing Oil Stocks


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

US Oil Import Export





US Gasoline Consumers

Input to Refineries


US consumers bought 384.80 million gallons of gasoline per day last week. That is -31.0 mil YoY


US consumers spent $839.60 million dollars per day for gasoline last week. That is -$230.70 mil YoY.


 US avg retail price for gasoline was $2.182 last week. That is -0.392 cents YoY 


US Crude Oil Production

 US Oil Field Production +100kbpd to 10.80 mpd 0ff ATH 13.10mpd



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


   ** 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.


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.


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


From TradersCommunity Research</

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