EIA Oil Inventories -6451k Crude Draw +3424k Gasoline Build #TCOIL

The TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

Cushing Oil StorageDOE Weekly Petroleum Status Report: 8/2/17
Release Time: Wednesday 9 August 2017 – 10:30 ET

 ActualExpectedPrior EIAAPI
Crude -6451k -2800k-1527k -7839
Cushing +569k +720k-39k +319k
Gasoline +3424k -1500k-2517k +1529k
Distillate-1729k

 -100k

-150k -157k

Note in bbls *exp = Reuters poll est except Cushing  

Refinery Utilization +.9% to 96.3%

Production +0.1% w/w to 9.423mbpd +11.5% y/y

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

DOE Estimates via @EnergyBasis

Crude Production – Oil Rigs – Crude Futures 

Total US RigCount 

Current US Oil & NatGas RigCount

EIA Prep via @DigStic

 

TankerTackers.com Estimates @TankerTrackers

 

 Refinery Runs

 

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

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API WTI crude oil futures settle at $49.17/bbl. -$0.22. -0.45%. _U7 

API via Marketwatch 
By Myra P. Saefong @MktwSaefong

 U.S. crude supplies fall says API data, suggesting market 

The American Petroleum Institute reported Tuesday that U.S. crude inventories declined while gasoline inventories increased for the week ended Aug. 4. API data showed that crude inventories declined 7.8 million barrels, while gasoline inventories increased 1.5 million barrels, according to sources. “Another big draw on crude suggests that market rebalancing [is] well underway,” said Phil Flynn, senior market analyst at the Price Futures Group, in emailed comments. Supply data from the Energy Information Administration is scheduled for release Wednesday morning. On Tuesday, West Texas Intermediate futures CLU7, +0.77% slid 22 cents, or 0.5% to settle at $49.17 a barrel. Following the API report, crude traded at $49.07 a barrel.

** 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 #OOTTNews

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