CFTC COT
| November 15, 2010
November 15, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending November 9. We focus on net length of non-commercial traders as well as net length of money managers and swap dealers as indicated in the disaggregated data for WTI , natural gas, gasoline, and heating oil. Non-commercial net length rose across the petroleum complex during the week, with the sharpest rise in heating oil. WTI had rallied to $86 (for the first time since the begi.....
DOE CRUDE STATS
| November 10, 2010
Distillate strength
DOE CRUDE STATS Distillate strength Apparent distillate demand (product supplied) has surged over the last four weeks, gaining 690 kb/d since early October. Although a good portion of this increase has likely been due to a hidden jump in exports – resulting from tightness in global distillate markets as European refining disruptions, Latin American product demand, and Chinese distillate shortages – the numbers are nonetheless impressive. At 4.39 mb/d, this is the highest weekly reading s.....
CFTC COT
| November 05, 2010
November 05, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending November 2. We focus on net length of non-commercial traders as well as net length of money managers and swap dealers as indicated in the disaggregated data for WTI , natural gas, gasoline, and heating oil. Non-commercial net length in WTI climbed during the week to reach a record high again (since the CFTC started releasing disaggregated data in January). Non-commercial net .....
DOE CRUDE STATS
| November 03, 2010
Erratic behavior
DOE CRUDE STATS Erratic behavior The erratic gasoline estimates and PADD II stats continued into this week. Although gasoline inventories declined -2.7m bbl, it was more for a reduction in supply rather than strong demand. Apparent gasoline demand (product supplied) surrendered most of last week’s gains, dropping 340 kb/d. At 9.02 mb/d, apparent gasoline demand – both this week and the 4wk average – is flat with year-ago levels. Meanwhile, the mysteries surrounding fluctuating PADD I.....
CFTC COT
| October 29, 2010
October 29, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending October 26. We focus on net length of non-commercial traders as well as net length of money managers and swap dealers as indicated in the disaggregated data for WTI , natural gas, gasoline, and heating oil. Non-commercial net length increased in WTI during the week to reach its highest point (slightly higher than two weeks ago) since the CFTC started releasing disaggregated d.....
DOE CRUDE STATS
| October 27, 2010
A wild Wednesday
DOE CRUDE STATS A wild Wednesday Total product supplied (apparent demand) increased 1.08 mb/d to 19.5 mb/d, the highest estimate in a month. Apparent principle product demand increased 750 kb/d (the third-highest weekly increase in the past three years) with gasoline demand up 470 kb/d and distillate demand up 110 kb/d. Yields reached their highest point in two years, pushing gasoline production back to a record level for this time of year even though runs remain quite low. Meanwhile, P.....
CFTC COT
| October 22, 2010
October 22, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending October 19. We focus on net length of non-commercial traders as well as net length of money managers and swap dealers as indicated in the disaggregated data for WTI , natural gas, gasoline, and heating oil. Non-commercial net length registered mild decreases in WTI and RBOB and a sharper decline in heating oil during the week. In WTI , net longs fell by 20.7k to 141.0k in fu.....
DOE CRUDE STATS
| October 20, 2010
Is PADD 2 legit?
DOE CRUDE STATS Is PADD 2 legit? Already benefiting from a weaker dollar and rallying equities today, WTI gained an instant boost from the big -1m bbl decline of Cushing inventories as part of a broader -3.5m bbl draw in PADD II. The region’s draw is a bit curious as PADD II imports increased 60 kb/d while runs fell 13 kb/d, implying that the pull on crude inventories should be ~0.5m bbl less than last week, when storage grew by 1.3m bbl. That means that crude supply had to other.....
CFTC COT
| October 15, 2010
October 15, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending October 12. We focus on net length of non-commercial traders as well as net length of money managers and swap dealers as indicated in the disaggregated data for WTI , natural gas, gasoline, and heating oil. Non-commercial net length increased slightly in WTI and RBOB and declined more sharply in heating oil during the week. In WTI , net longs rose by 14.8k to 161.8k in futur.....
DOE CRUDE STATS
| October 14, 2010
No big surprises
DOE CRUDE STATS No big surprises Apparent principal product demand (product supplied) fell 280 kb/d on the week to 14.3 mb/d, primarily due to a -180 kb/d drop in apparent gasoline demand. 4wk average apparent gasoline demand is running 100 kb/d below year-ago levels, though for the remainder of the year we expect gasoline consumption to run slightly ahead of last year’s depressed levels. Despite generally weak gasoline demand, lower runs have curtailed product output, dragging gasoline .....