DOE CRUDE STATS
| July 14, 2010
Pulling out the rug on gasoline
DOE CRUDE STATS July 14, 2010 Pulling out the rug on gasoline There is a lot to digest in this week’s EIA report. Overall, the stats undermine gasoline prices (and should pressure the distillate market as well), indicating a bit of over-exuberance about the traditional peak of the US driving season. Major data points: Crude oil inventories: Drew by -5.06m bbl, vs. expectations of a -1.5m bbl draw, due to a 4.76m bbl draw in PADD III (Gulf Coast). Crude stocks have dropped 10.....
DOE CRUDE STATS
| July 08, 2010
Distillates bounce back
DOE CRUDE STATS July 8, 2010 Distillates bounce back Total US apparent demand more than recovered its losses from last week, increasing by 600 kb/d to 19.56 mb/d. But while last week’s losses were concentrated in Other Oils, distillate demand (+400 kb/d) drove an increase in apparent principal product demand. At 15.37 mb/d, principal product demand touched its highest point since Mar09. Major data points: Crude oil inventories: Drew by -4.96m bbl, vs. expectations of a -2m bbl dra.....
DOE CRUDE STATS
| June 30, 2010
Another gasoline rope-a-dope?
DOE CRUDE STATS June 30, 2010 Another gasoline rope-a-dope? Gasoline demand is showing its first glimmers of life since the spring. With US consumer expenditures reaching record highs, this could be a signal of spending finally filtering through to the gasoline market. But such proclamations were prevalent in the spring, when strong weekly data belied weak underlying fundamentals. And as yesterday’s DOE monthly data release for Apr10 reiterated, skeptics were correct to be wary of th.....
DOE CRUDE STATS
| June 23, 2010
Refiner restraint vs. weak gasoline demand
DOE CRUDE STATS June 23, 2010 Refiner restraint vs. weak gasoline demand This week’s stats continue to indicate very weak gasoline demand along with distillate demand that continues to reflect economic recovery. Refiners have responded to relatively stronger distillate margins by boosting distillate output while dialing back on gasoline production, somewhat mitigating the gasoline inventory glut. But in lending a modicum of support to gasoline prices, refiners are also undermining the .....
DOE CRUDE STATS
| June 16, 2010
Mixed signals for product markets
DOE CRUDE STATS June 16, 2010 Mixed signals for product markets In this week’s DOE stats, inventory numbers and apparent demand numbers seem to be whispering different messages to product markets. While the gasoline inventory surplus declined slightly, apparent demand numbers remain historically very weak. Meanwhile, commercial distillate storage continues to surge but apparent distillate demand remains well ahead of year-ago levels and even within shouting distance of pre-recession .....
DOE CRUDE STATS
| June 09, 2010
June 09, 2010
DOE CRUDE STATS Crude oil inventories : Drew 1.83m bbl, vs. expectations of a 900k bbl draw. With a 1.87m bbl build in PADD V (West Coast), inventories east of the Rockies drew a big 3.7m bbl due to a 4.66m bbl draw in PADD III (Gulf Coast). Cushing storage fell by 473k bbl while broader PADD II (Midcontinent) inventories ticked up marginally. Gasoline inventories: Drew just 8k bbl vs. expectations of a 500k bbl draw. Distillate inventories: Built 1.8m bbl, well above the exp.....
DOE CRUDE STATS
| June 03, 2010
June 03, 2010
DOE CRUDE STATS Attached please find today’s weekly DOE Petroleum Statistics. There will be no summary today.
DOE CRUDE STATS
| May 26, 2010
Gasoline demand still lagging
DOE CRUDE STATS May 26, 2010 Gasoline demand still lagging Total product supplied increased by 110 kb/d on the week to 19.7 mb/d, but a 280 kb/d increase in Other Oils accounted for the increase. Apparent principal product demand fell 180 kb/d w-o-w, but without significant change among any of the major products. Apparent gasoline demand remained essentially flat on the week, which is not very supportive for gasoline markets. Four-week average gasoline demand is now flat with last ye.....
DOE CRUDE STATS
| May 26, 2010
May 26, 2010
DOE CRUDE STATS Please find attached detailed stats and charts for this week’s DOE petroleum stats. Analysis to follow shortly. Crude oil inventories: Built 2.46m bbl, vs. expectations of a 250k bbl build, but with a 2.26m bbl build in PADD V, inventories east of the Rockies built just 200k bbl. Cushing storage fell by 324k bbl from its record high last week – supportive for the front of the curve considering that PADD II runs were flat and imports into the region were up 69 kb/d .....
DOE CRUDE STATS
| May 19, 2010
Swimming in gasoline
DOE CRUDE STATS May 19, 2010 Swimming in gasoline This week’s EIA product supplied data continue to paint a picture of looming gasoline weakness relative to distillate. Total product supplied (apparent demand) increased another 280 kb/d on the week to 19.6 mb/d, with 4wk average demand up 0.9 mb/d yoy. This week’s demand increase was driven by a 200 kb/d increase in distillate demand along with a 270 kb/d increase in propane demand. Distillate demand reached 4.1 mb/d, the highest wee.....