DOE CRUDE STATS
| February 09, 2011
Can Cushing Clean Up?
DOE CRUDE STATS Can Cushing clean up? Total apparent demand (product supplied) jumped 0.5 mb/d, but the increase was mostly attributable to a 0.55 mb/d gain in other oils. Both gasoline and distillate apparent demand have continued to sputter along, hindered by a winter of repeated snowstorms disrupting ground travel; four-week average demand for the two products are basically flat with last year’s very low levels. Meanwhile, Cushing abruptly reversed the past two weeks of contraseasonal.....
DOE CRUDE STATS
| February 02, 2011
Does it take PADD II to contango?
Does it take PADD II to contango? Apparent demand estimates continued to exhibit weakness across the board this week. Only distillate demonstrated significant w-o-w gains (+180 kb/d), though four-week average apparent distillate demand continues to plumb the depths of 2009-10 levels. Meanwhile, a surge of gasoline imports contributed to a big +6.2m bbl build of gasoline inventories to a new record above 236m bbl. But the market’s attention will likely remain focused on Cushing crude inventor.....
DOE CRUDE STATS
| January 26, 2011
January 26, 2011
DOE CRUDE STATS 1/21/11 1/14/11 w.o.w. Bloomberg Median US crude inventories 340.6 335.7 4.84 1.20 Cushing crude inventories 37.7 36.8 0.86 US gasoline inventories 230.1 227.7 2.40 2.30 US distillate inventories 165.7 165.8 (0.10) (0.50) US refinery input 14,127 14,339 (212) US crude imports 9,385 8,999 386 Please see attached PDF file for detailed stats and charts. There will be no commentary today.
DOE CRUDE STATS
| January 20, 2011
Gasoline yields bounce back
Gasoline yields bounce back This week’s stats present a mixed bag for WTI . The headline Cushing draw should help alleviate some concern of a storage buildup ahead of the PADD II maintenance season. But this week’s imports into the region touched 1.47 mb/d – despite lost production from CNR’s Horizon Oil Sands project – which should stoke fears that the buildup of crude inventories in Canada is working its way down into the region. Meanwhile, the EIA issued yet another set of relatively w.....
DOE CRUDE STATS
| January 12, 2011
Mogas, mo problems
DOE CRUDE STATS Mogas, mo problems The first week of 2011 opened the year with some tepid apparent demand estimates along with a sizeable gasoline inventory build that again casts doubts on the very strong gasoline demand estimates that closed out 2010. Total product supplied (apparent demand) dropped 100 kb/d w-o-w to 19 mb/d, largely due to a 170 kb/d decline in distillate demand. This week’s severe winter weather snarled travel yet again, so the string of weak demand data is likely to.....
DOE CRUDE STATS
| January 05, 2011
A Wintry Mix
DOE CRUDE STATS A wintry mix The winter blast to close out 2010 left its mark on the petroleum complex during the week. As expected, apparent demand (product supplied) for all transportation fuels plunged as the blizzard tied up air and ground travel across the northeast for several days. Apparent gasoline demand dropped 0.55 mb/d from its recent heights to 8.85 mb/d while distillate demand fell 0.26 mb/d to 3.74 mb/d. Given the weather disruption, it’s hard to read much into the apparen.....
DOE CRUDE STATS
| December 30, 2010
Is the gasoline demand surge real?
DOE CRUDE STATS Is the gasoline demand surge real? Apparent gasoline demand (product supplied) has registered an impressive four weeks. Demand gained 190 kb/d on the week, reaching 9.4 mb/d – a level roughly on par with mid-August. But even though refiners dialed back gasoline output by 176 kb/d, four-week average gasoline production has reached 9.37 mb/d. This represents the highest gasoline output in US history apart from the record levels established this summer. Major data points: .....
DOE CRUDE STATS
| December 22, 2010
December 22, 2010
DOE CRUDE STATS 12/17/10 12/10/10 w.o.w. Bloomberg Median US crude inventories 340.7 346 (5.33) (3.40) Cushing crude inventories 36.4 35.9 0.48 US gasoline inventories 217.2 214.8 2.4 1.50 US distillate inventories 160.7 161.3 (0.6) 0.00 US refinery input 14,926 14,974 (48) US crude imports 8,741 7,690 1051 Please see attached PDF file for detailed stats and charts. There will be no commentary today.
DOE CRUDE STATS
| December 15, 2010
December 15, 2010
DOE CRUDE STATS 12/10/10 12/03/10 w.o.w. Bloomberg Median US crude inventories 346 355.9 (9.85) (2.50) Cushing crude inventories 35.9 34.9 0.98 US gasoline inventories 214.8 214 0.80 2.00 US distillate inventories 161.3 160.2 1.10 0.00 US refinery input 14,974 14,903 71 US crude imports 7,690 9,053 (1363) Please see attached PDF file for detailed stats and charts. There will be no commentary today.
DOE CRUDE STATS
| December 08, 2010
Rapid response
DOE CRUDE STATS Rapid response Refiners demonstrated how readily they can respond to stronger margins. When the Jan NYMEX RBOB crack topped out at $10.92/bbl on Dec 2, it had risen 143% in a month. The crack jumped 57% during that week alone as the heat crack rose just 4%. Refiners took advantage of the opportunity, increasing runs by 789 kb/d to 14.9 mb/d, the highest point since mid-Sep, leading to big principal product inventory builds even though total commercial petroleum stocks.....