Oil & Energy

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Energy storage still distorted from Hurricane Laura. EIA reported a draw in crude oil of -4389kbbl, a draw of of  -74kbbl at Cushing.  Draw in gasoline -381kbbl. US production was at 10,900 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: 9/9/20

  • via TradersCommunity.com
  • Release Time: Wednesday September 16 2020 - 10:30 ET
EIA Expected Prior EIA API
Crude -4389k +2000k +2033k -9517k
Cushing -74k -348k -+110k
-798k
Gasoline

-381k

-600k -2954k +3762k
Distillate +3461k

+400k

-1675k -1123k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization +4.0% to 75.8% Exp +1.5%
  • Production +900 to 10.90 mbpd (13.10 ATH)

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

Weather Watch

Gulf of Mexico

API Crude Inventories

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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 9 11 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 9 11 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 #oil in wk to Sept 8. The 13% price drop below previous support saw funds reduce bullish #WTI (-58k) and #Brent (-67k) bets by one quarter to 391k lots, a 20 wk low. Short selling jumped with the WTI gross short reaching a pre April price crash high at 110k lots

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COT on #Commodities in wk to Sept 8. Funds dumping #oil and product futures where the main drivers behind the first week of overall commodity selling in three month. The 179k lots or 28% reduction in the managed money net long in #oil, #gasoline, gasoil and ULSD last week was the biggest since July 201

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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

Input to Refineries

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US consumers bought 356.10 million gallons of gasoline per day last week. That is -19.3 mil YoY

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US consumers spent $777.30 million dollars per day for gasoline last week. That is -$180.80 mil YoY.

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 US avg retail price for gasoline was $2.183 last week. That is -0.369 cents YoY 

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US Crude Oil Production

 US Oil Field Production +900kbpd to 10.90 mpd 0ff ATH 13.10mpd  

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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

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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:

 

EIA Products:

 

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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