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WTI Crude oil surged to the highest prices since 2019 after OPEC and MidEast impacts. EIA reported post storm anomalities with a massive build in crude of + 13798 kbbl (including a 526kbbl build at Cushing). Gasoline drew -11869kbbl and Utilization recovered 13% to 68.0%. Production rose to 10,900 from 10,000 kbpd last week

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 3/3/21

  • via TradersCommunity.com
  • Release Time: Wednesday, March 10, 2021 at 10:30 A.M. (ET)
EIA Expected Prior EIA API
Crude +13798k +800k +21563k +12792k
Cushing +526k +652k +485k +295k


-3500k -13624k -8499k
Distillate -5504k


-9719k -4796k

Note in bbls *exp = Reuters poll est  adjusted for API shift, except Cushing

  • Refinery Utilization +13.00% to 68.0% Exp  +7.3%
  • Production  +900 at 10,900 mbpd (13.10 ATH)

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

US Crude Oil Quick Look


via Giovanni Staunovo🛢 @staunovo

Weather Watch

Gulf of Mexico

API Crude Inventories

United States API Crude Oil Stock Change

WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave

WTI  has 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. This week that was powered by the Tenkan Spit of a spit. Support  is the Tenkan, old channel & prev high confluence. Watch Kijun & 50 dma.. Resistance MM and previous lows.

WTI D 3 5 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. Given that we had tremendous energy which bore out in the hghs last seen 2019.

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 3 5 2021

Crude Oil Futures Committment of Traders

Latest ICE and CFTC Open Interest Data:

CTFC and ICE open interest: via Giovanni Staunovo🛢 @staunovo

Money managers increased their net-length in WTI crude oil futures and options by 4,776 contracts to 354,920 in the week ending January 19 - a 6-month high Long-only positions rose by 1,352 Short-only positions fell by 3,424 CFTC 



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 366.5 million gallons of gasoline per day last week. That is -19.3 mil YoY


US consumers spent $1, 015.50 million dollars per day for gasoline last week. That is +80.7 mil YoY.


US avg retail price for gasoline was $2.771 last week. That is +39.60 cents YoY



US Crude Oil Production

 US Oil Field Production +900 to 19.00 mbpd Off 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:

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


From TradersCommunity Research

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