Oil & Energy

Google Ad

EIA reported a build in crude of +4351kbbl including-4727kbbl draw at Cushing. Gasoline drew -260kbbl and a build with distillate +458kbbl. US production unchanged at 11000 kbpd, still off record high of 13.10 mbpd. Refinery Utilization +0.5% to 82.5% Exp +0.4%

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 1/15/21

  • via TradersCommunity.com
  • Release Time: January 22, 2021 Friday 11:00 a.m. Martin Luther King Jr. / Inauguration
EIA Expected Prior EIA API
Crude +4351k -2300k -3248k +2562k
Cushing -4727k -4844k -1975k -4285k
Gasoline

-260k

+2700k +4395k +1129k
Distillate +458k

+2700k

+4786k +816k

Note in bbls *exp = Reuters poll est except Cushing

  • Refinery Utilization  +0.5% to 82.5% Exp +0.4%
  • Production UNCH at 11.000 mbpd (13.10 ATH)

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

US Crude Oil Quick Look

 

Weather Watch

Gulf of Mexico

API Crude Inventories

Image

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

WTI continued higher after broke the topside of the channel it had been in since September, In any break, the key is crowd behavior to help tell the story. We watch ABC corrections and from here we got the energy from the break. Support  is the Tenkan, old channel & prev high confluence. Watch Kijun & 50 dma.. Resistance MM and previous lows.

WTI D 1 15 2021


WTI has continued higher after it rebalanced chikou indicative of extreme crowd behavior in a series of fractals at last Dec wave 1 turn after we had completed 5 waves as marked, from here we watched 3 & 5 waves develop. Price popped after the spit of the 50wma (green) which is now key for support as Tenkan touched Kijun in a kiss of life. 

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 Murrey Math time and price 

WTI W 1 15 2021

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

  • CFTC: OIL SPECULATORS RAISE WTI NET LONG POSITION BY 21,841 CONTRACTS TO 349,965 IN WEEK TO JANUARY 12
  • Money managers increased their net-length in WTI crude oil futures and options by 18,489 contracts to 350,144 in the week ending January 13 a 5-month high
  • Long-only positions rose by 14,363 Short-only positions fell by 4,126
  • CFTC: NATURAL GAS SPECULATORS IN FOUR MAJOR NYMEX, ICE MARKETS RAISE NET LONG POSITION BY 37,705 CONTRACTS TO 286,182 IN WEEK TO JANUARY 12

 

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 

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

 

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 340.70 million gallons of gasoline per day last week. That is -18.70 mil YoY

Image

US consumers spent $810.50 million dollars per day for gasoline last week. That is -$1113.30 mil YoY.

Image

US avg retail price for gasoline was $2.379 last week. That is -19.10 cents YoY

Image

 

US Crude Oil Production

 US Oil Field Production  UNCH kbpd at 11.00 mbpd 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:

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

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