Cushing back to a build with a large crude build as oil futures quickly reverted back into contango ahead of this week’s EIA oil inventory report while a shifting geopolitical risk matrix develops after President Trump ousted Secretary of State Rex Tillerson.
Cushing back to a build as oil futures quickly reverted back into contango ahead of this week’s EIA oil inventory report while a shifting geopolitical risk matrix develops after President Trump ousted Secretary of State Rex Tillerson.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
- via TradersCommunity.com
- Release Time: Wedneday 14 March 2018 – 10:30 ET
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization +2.0% v Exp -0.5%
- Production +0.1% to 10.381mbd ( ATH) +14% y/y
“Cushing crude oil storage is currently down 45% year-on-year. Just look at all that red.”
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.
US Oil Exports Are Decreasing From October Peak
US Oil Imports Per Day
US Oil Input Into Refineries Per Day
US consumers spent $86.2 million more dollars per day than same week last year
US Oil Field Production
US Oil Refinery Utilization
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.
Further Crude Oil Analysis Criterion Research
From TradersCommunity Research