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EIA Inventory report showed a surprise build in crude after whispers of a another huge draw in crude oil this week. We saw oil prices jump on OPEC, Syncrude, Midland and Iran importers told to stop by the U.S. Saudi Arabia says to produce at record highs. Volatility 101.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 6/27/18

  • via TradersCommunity.com
  • Release Time: Thursday 5 July 2018 - 11:00 ET 
  Actual Expected Prior EIA API
Crude +1245k -3300k -9891k -4500k
Cushing -2113  -2664k -2713k -2600k
Gasoline

-1505k

-1000k +1156k -3100k
Distillate +134k

-600k

+15k -400k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization -.04% to 97.1% Exp +0.8% 
  • Production  Unch at 10.90k bd (ATH) +15.5% y/y

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

US Petroleum Inventories Getting Tight?

 

SELECTED INDICATORS from the EIA Weekly Petroleum Status Report for the week ending 22 Jun 2018

  • via John Kemp @JKempEnergy RonH @Ronh999

Criterion U.S. Crude Oil Production Forecast ‏@Criterionrsch

 

WTI Crude Oil Futures Committment of Traders

 

CL DCOT futures only managed money traders have the least amount of shorts in history. Only 19,159. 

EIA Inventory Forecast via @tankertrackers.com

Here is a great shot of Cushing crude oil storage when it was down 45% year-on-year with the red tanks highlighting the empties

The Fundamental Angle with Brynne Kelly ‏@BrynneKKelly

 

 

DigStic Data @DigStic


 

  

RonH Data ‏@Ronh999

 

US Oil Exports 

  • US oil exports off their 2018 (ATH) high.

US Oil Imports Week Over Week - New High for 2018

 

US Oil Input Into Refineries Per Day

 

US consumers spent $1.1788 billion per day for gasoline last week. That is $257.60 million more dollars per day than same week last year. 

 

US gasoline avg retail price was $2.844 per gallon. That is 58.4 cents more per gallon YoY.

 

US consumers bought 414.5 million gallons of gasoline per day last week. A new 2018 High

 

US Oil Field Production, Unchanged at Record High

 US Oil Refinery Utilization, New 2018 High

 

 Cushing Oil Stocks

 

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

Ahead of API July WTI crude oil futures settled at $66.36/bbl. $0.26. +0.39% via‏ @Lee_Saks

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.

Key EIA and CME Dates For WTI Crude Oil

CME Crude Oil Futures Calendar

CME Crude Oil Options Calendar

REGULAR & HOLIDAY RELEASE SCHEDULE

Further Crude Oil Analysis Criterion Research

From TradersCommunity Research

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