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.
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
| Actual | Expected | Prior EIA | API | |
| Crude | -7419k | -5300k | -4609k | -4992k |
| Cushing | -2444k | –2240k | -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
“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
** 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