EIA reported a build in Gasoline for the first time in 11 weeks crude oil storage built 9934k bbls. Gasoline had a build of 917k bbls with a draw of -662k bbls in distillates last week. The shale revolution continues BUT production back up 100k to record high of 12.30 mbpd.
EIA reported a build in Gasoline for the first time in 11 weeks crude oil storage built 9934k bbls. Gasoline had a build of 917k bbls with a draw of -662k bbls in distillates last week. The shale revolution continues BUT production back up 100k to record high of 12.30 mbpd.
Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.
DOE Weekly Petroleum Status Report: 4/24/19
- via TradersCommunity.com
- Release Time: Wednesday 1 May 2018 –10.30 ET
| EIA | Expected | Prior EIA | API | |
| Crude | +9934k | +1100k | +5479k | +6808k |
| Cushing | +265k | +243k | +463k | +1353k |
| Gasoline | +917k | -1300k | -2129k | -1055k |
| Distillate | -1307k | -100k | -662k | -2058k |
Note in bbls *exp = Reuters poll est except Cushing
- Refinery Utilization -0.9% to 89.2% Exp +0.9%
- Production +100k to 12.30k bd (12.30 ATH)
Summary of Weekly Petroleum Data for the Week (Live Link)
API Crude Inventories
Weekly Global Oil Prices
WTI Crude Oil Futures Weekly Chart Outlook via @KnovaWave
The daily WTi reversed back inside the pennant and accelrated lower though the tenkan (orange) closing the week with a bounce off thr Kijun (pink) and lower pennant confluence. The question is of degree in the 5 of the C.
WTI rests in the cloud on the weekly after spat the previous break retest from a year ago and back through the 50wma (green) and Kijun Sen (pink) to bring chikou back in balance (blue) . Tenkan remains support – watch Murrey confluence with cloud above.
Crude Oil Futures Committment of Traders
Latest ICE and CFTC Open Interest Data: The shorts keep retreating. Brent net spec length now up 15 out of the last 16 weeks. via OILytics @OilyticsData Mar 31
ICE and CFTC Product Spec Length: RBOB net spec length drops off -3K contracts, but long/short ratio still at a lofty 35:1. Gasoil spec length gained 10K contracts even though cracks hit the lowest levels since Jul-1
In the wk to April 23 the combined speculative long in #Brent and WTI oil reached 711k lots, the highest since Oct 9. Fundamentals remain supportive but recent buyers may see a short-term technical challenge following Friday’s ugly close.Via Ole S Hansen @Ole_S_Hansen
Understanding DCOT Reports
Read Understanding Commitments of Traders Reports – COT, TFF and DCOT to help understand the disaggregated reports (DCOT) and how they break down the reportable open interest positions into four classifications: 1. Producer/Merchant/Processor/User 2. Swap Dealers 3. Managed Money 4. Other Reportables
Crude Oil Option Volatilty Watch via commodityvol.com
Brent/WTI Vol April 17, 2019 NYMEX LO = CRUDE OIL OPTIONS ICE_North Sea BRN
via CommodityVol.com @CommodityImpVol
Update of Brent & WTI Option Vol (Live Link)
CRUDE OIL OPTIONS
Apr 18, 2019 LO K[16] 2019 Vol= 0.2095 Strike= 64 LO M[17] 2019 Vol= 0.2216 Strike= 64 LO N[17] 2019 Vol= 0.2311 Strike= 64 LO Q[15] 2019 Vol= 0.2304 Strike= 64
NY HARBOR ULSD OPTION
Apr 18, 2019 OH J[25] 2019 Vol= 0.1604 Strike= 2.07 OH K[28] 2019 Vol= 0.1915 Strike= 2.07 OH M[25] 2019 Vol= 0.1967 Strike= 2.09 OH N[26] 2019 Vol= 0.1990 Strike= 2.11
The Fundamental Angle with Brynne Kelly @BrynneKKelly
DigStic Data @DigStic
RonH Data @Ronh999
Cushing Oil Stocks
NB: Check out Ron’s great work at Ron H Public Tableau Link
US Oil Exports Back Off ATH.
US Oil Imports Week Over Week
US Oil Input Into Refineries Per Day
US consumers spent $1,118.90 million dollars per day for gasoline last week. That is +32.40 mil YoY.
US avg retail price for gasoline was $2.887 last week. That is +0.041 cents YoY.
US consumers bought 387.58 million gallons of gasoline per day last week. That is +5.8 mil YoY
US Oil Field Production of 12.30 mbpd off ATH
US Crude Oil Production by State and API at January 2019 via OILytics @OilyticsData
Crude Production by state and API: Data updated until Jan-19. L48 monthly production drops for the first time in 8 months.
Y-o-Y production growth (KBD):
- API 25 and lower: -1
- 25-30: -146
- 30-35: +311
- 35-40: +484
- 40-45: +769
- 45-50: +349
- 50+: +122
** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.
OILytics @OilyticsData
EIA Crude Imports by Country:
Total Crude imports up +266KBD, despite lower exports from Saudi. Saudi exports down -293KBD w-o-w which is partially offset by increase in Iraqi crude +246KBD.
EIA Product Stats:
Gasoline builds for the first time in 11 weeks as gasoline yield spike 2.5% after remaining low for the last 3 weeks. Gasoline demand remains healthy while Distillate demand has dropped after a strong Q1.
EIA Crude Stats:
Big +9.9mln crude build as crude stocks reach the highest levels since Sept-2017. Production up +100KBD w-o-w, imports up +266KBD, exports and adj factor fairly unchanged. Refinery runs continue to remain depressed and an SPR release of 0.5MMBBLS
US Crude Oil Prices and Recessions
Via John Kemp @JKempEnergy
Key EIA and CME Dates For WTI Crude Oil
CME Crude Oil Futures Calendar
CME Crude Oil Options Calendar
REGULAR & HOLIDAY RELEASE SCHEDULE
From TradersCommunity Research