CFTC COT
| September 03, 2010
September 03, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending August 31. 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. The bearish streak in the petroleum complex eased somewhat during the week ending August 31 with a fall in heating oil non-commercial net short positions (futures and options .....
DOE CRUDE STATS
| September 01, 2010
An Early Distillate Draw
An early distillate draw US principal product apparent demand increased 0.26 mb/d on the week, primarily due to a 0.3 mb/d increase in apparent distillate demand. The erratic readings in apparent distillate demand this summer have been primarily due to fluctuations in exports throughout the season, rising above the EIA’s embedded export number, falling well below, and now likely rebounding. Nonetheless, it is clear that distillate has been the primary source of demand growth over last year’s a.....
CFTC COT
| August 27, 2010
August 27, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending August 24. 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. Investors continued to be bearish about the petroleum complex during the week ending August 24. WTI non-commercial net longs (futures only) declined 29%. Non-commercials red.....
DOE CRUDE STATS
| August 25, 2010
Yield To Pressure (including chart package)
Please find attached our analysis of this week’s DOE petroleum statistics. The prior version did not include the PDF file of detailed statistics and charts. We apologize for any inconvenience.
DOE CRUDE STATS
| August 25, 2010
Yield To Pressure
Yield to pressure Not much changed in the EIA’s estimates of this week’s principal product demand (though other oils demand dropped 320 kb/d) as the inventories statistics were bearish virtually across the board. The lone bright spot for market bulls was that Cushing crude inventories declined despite higher PADD II imports. Total gasoline inventories sit at a record high for this time of year and, amazingly, are at the same level as in mid-March while high yields are keeping gasoline produc.....
CFTC COT
| August 20, 2010
August 20, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending August 17. 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. Investors soured on the petroleum complex considerably during the week ending August 17. WTI non-commercial net longs declined slightly while non-commercials slashed net lon.....
DOE CRUDE STATS
| August 18, 2010
Too Little Too Late?
Too little too late? Principal product apparent demand increased 340 kb/d on the week, driven by a 270 kb/d increase in distillate demand and a 220 kb/d increase in gasoline. The stats weren’t nearly as bearish as yesterday’s API numbers and this is the third-highest demand reading of the year. But the major products continue to exhibit weakness despite the sizable gains in apparent demand while inventories remain bloated and refiners continue to churn out product. Major data points: • .....
CFTC COT
| August 13, 2010
August 13, 2010
Please find attached data in charts detailing the latest CFTC Commitments of Traders Report for the week ending August 10. 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. The CFTC data indicate mixed news for WTI . Non-commercial net length increased by 5.6k to 191k (futures and options combined), but the disaggregated report indicates that b.....
DOE CRUDE STATS
| August 11, 2010
More Bearish Numbers
DOE CRUDE STATS More bearish numbers This week’s apparent demand numbers were quite weak for both gasoline and distillate, but the details continue to paint an especially bearish picture of the gasoline market. Principal product demand fell -310 kb/d on the week primarily due to a -240 kb/d drop in apparent gasoline demand. Even though lower refinery output and lower imports reduced gasoline supply by 2.8m bbl on the week, gasoline inventories still managed to rise contra-seasonally. App.....
CFTC COT
| August 06, 2010
August 06, 2010
Please find attached stats and charts detailing investor positions in WTI , natural gas, heating oil, and RBOB , as indicated by the latest CFTC Commitments of Traders report. We focus on non-commercial positions as well as the money manager positions in the CFTC’s newer disaggregated report. Risk appetites appear to have returned in energy markets, notwithstanding macroeconomic data that appears mixed at best. Index investors posted their third straight week of strong inflows while non-co.....