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The fast shrinking crude inventories at Cushing, the hub for the WTI futures contract are getting attention. We saw another week of near record crude production and rising rig counts that sees WTI losing momentum.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 2/21/18

  • via TradersCommunity.com
  • Release Time: Wedneday 28 February 2018 - 10:30 ET 
  Actual Expected Prior EIA API
Crude +3019k +2700k -1616k +933k
Cushing -1218k -881k -2664k -1277k
Gasoline +2483k
-600k +261k +1914k
Distillate -960k

-700k

-2422k -1437k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization Prior -1.7% 
  • Production +.1% 10.283mbd just shy of ( 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

 

Data @DigStic

 

Chad Stickforth ‏ @DigStic - Since report dated Nov-10-17, Cushing has drawn in every week except for one for a total depletion of 34.6 million barrels. Impressive.

 

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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