EIA Oil Inventories – 7419k Crude Draw Offset By Huge Gasoline and Distillate Builds

Crude oil futures joined the risk on rally for stocks and other commodities in 2018. WTI crude oil futures have traded at the highest levels since 2015 into the first storage report for the year.

Crude oil futures joined the risk on rally for stocks and other commodities in 2018. WTI crude oil futures have traded at the highest levels since 2015 into the first storage report for the year. The TCoil Preview highlights what traders are looking for in the DOE Petroleum Status and Private API Reports.

Cushing Storage Tanks

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

DOE Weekly Petroleum Status Report: 12/27/17

  • via TradersCommunity.com
  • Release Time: Thursday 4 January 2018 – 11:00 ET 
 ActualExpectedPrior EIAAPI
Crude-7419k -5300k-4609k-4992k
Cushing-2444k2240k-1584k-2110k
Gasoline+4813k
+1900k+591k+1870k
Distillate +8899k

+1000k

+1090K+4722k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization  +1.0% Prior +1.6%
  • Production +.029m w/w to 9.782 mbpd (Off Prev ATH) +11.4% y/y

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

Criterion U.S. Crude Oil Production Forecast

Criterion Research @criterion_info 

EIA Inventory Forecast via @tankertrackers.com

 

Brynne Kelly‏@BrynneKKelly 

“This Week” inventory change in prior years:

EIA Prep via @DigStic

 

 RonH‏@Ronh999 Refinery Runs

 

RonH‏@Ronh999  Cushing Stocks (Hub for WTI Futures Contract)

 

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 $61.63 +$1.26 +2.09%

API via Marketwatch

The American Petroleum Institute reported Wednesday that U.S. crude supplies fell by 5 million barrels for the week ended Dec. 29, according to sources. The API data showed a rise of 1.9 million barrels in gasoline stockpiles, while inventories of distillates climbed by 4.3 million barrels, sources said. Supply data from the Energy Information Administration will be released Thursday morning, a day late due to the New Year’s Day holiday. Analysts polled by S&P Global Platts expect the EIA to report a decline of 5.7 million barrels for crude inventories. They also forecast a rise of 2 million barrels for gasoline and an increase of 1.3 million barrels for distillate supplies. February crude was at $61.79 a barrel in electronic trading, up from the settlement of $61.63, a roughly three-year high, on the New York Mercantile Exchange

https://www.marketwatch.com/story/api-data-reportedly-show-a-weekly-drop-in-us-crude-supplies-2018-01-03

 ** 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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