Our TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching for products and production after the hurricanes with the all important import export trade.
DOE Weekly Petroleum Status Report: 10/11/17
Release Time: Wednesday 18 October 2017 – 10:30 ET
| Actual | Expected | Prior EIA | API | |
| Crude | -5731k | -4742k | -2747k | -7130k |
| Cushing | +202k | -145k | +1322k | -151k |
| Gasoline | +908k | -1000k | +2490k | +1941k |
| Distillate | +528k | -2400k | -1480k | +1644k |
Note in bbls *exp = Reuters poll est except Cushing
Refinery Utilization –4.7% vs +0.5% expected
Production -1.074kbpd Prior -81kbpd on Nate (less than expected)
Summary of Weekly Petroleum Data for the Week (Live Link)
“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 WTI crude oil futures settle at $51.88/bbl. $0.01. +0.02%. CL X7 volume: ~407k
API via Marketwatch
By Myra P. Saefong @MktwSaefong
Oil prices rise as API data reportedly shows a hefty decline in U.S. crude supply
The American Petroleum Institute reported Tuesday that U.S. crude supplies dropped by 7.1 million barrels for the week ended Oct. 13, according to sources. The API data, however, also showed that gasoline stockpiles rose by 1.9 million barrels, while inventories of distillates climbed by 1.6 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a drop of 3.9 barrels in crude inventories, along with declines of 340,000 barrels for gasoline and 2 million barrels for distillate supplies. November crude CLX7, +0.13% was at $52.02 a barrel in electronic trading, up from the settlement of $51.88 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.
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