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Following last week's record crude production and rising rig counts oil broke down under the huge $60 option line forcing delta chasing. Options and futures expiration around this week's EIA Petroleum Inventory Report has traders nervous.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 2/7/18

  • via TradersCommunity.com
  • Release Time: Wedneday 14 February 2018 - 10:30 ET 
  Actual Expected Prior EIA API
Crude +1895k +2600k +1895k +3947k
Cushing -3642k -1030k -711k -2319k
Gasoline +3599k
+1400k +3414k +4634k
Distillate -459k

-1600k

+3926k +1100k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization  -2.7% Prior +4.4% to 92.5%
  • Production +0.2% w/w to 10271 mbpd ( ATH) +11.6% y/y

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

Criterion U.S. Crude Oil Production Forecast ‏@Criterionrsch

EIA Inventory Forecast via @tankertrackers.com

"Cushing crude oil storage is currently down 45% year-on-year. Just look at all that red."

The Fundamental Edge with Brynne Kelly ‏@BrynneKKelly

 

  

Chad Stickforth Data @DigStic

 

 

 

RonH Data ‏@Ronh999

US consumers spent $152.4 million more dollars per day for #gasoline last week compared to same week last year

US consumers bought 27.63 million more gallons of #gasoline per day last week compared to same week last year #OOTT

 

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

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API Feb WTI crude oil futures settled at U.S. crude at $

API via Marketwatch

 ** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.

REGULAR & HOLIDAY RELEASE SCHEDULE

Further Crude Oil Analysis Criterion Research

From TradersCommunity Research

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