DOE CRUDE STATS | March 30, 2011

Cushing springs forward

Cushing stocks leapt +1.7m bbl higher to 41.9m bbl, the highest since the DOE begin keeping records at the NYMEX pricing hub in 2004. Stocks now sit 1.6m bbl higher than the previous record of two weeks ago and eclipse year-ago levels by a full 11.0m bbl. Although the past 5 weeks have witnessed a sharp build in Cushing inventories, the scale of the build is comparable to a similar build last year that took place from mid-March through mid-May. But relative to that build, this year’s is off .....

CFTC COT | March 25, 2011

March 25, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending March 22. 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 non-commercial net short position decreased sharply in the natural gas market this week. Non-commercials shrank their net short position by 41.1k to 81.5 in futures and swap.....

DOE CRUDE STATS | March 23, 2011

Gasoline on the March

DOE CRUDE STATS Gasoline on the March Headline gasoline inventories drew a whopping -5.3m bbl this week, reflecting apparent demand that has recovered substantially since early February and is now comfortably within the pre-recession range. The drop in total gasoline storage is the latest in a -21.4m bbl slide over the last five weeks. Finished mogas stocks drew -1.7m bbl to 67.0m bbl. While the drop in gasoline inventories is typical on a seasonal basis, the rate of the draw has been fa.....

CFTC COT | March 18, 2011

March 18, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending March 15. 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. This week saw the largest outflow of index investment funds (-$7.49 billion) from the commodity markets since end-October 2008. Index investors withdrew -$5.41 billion from the .....

DOE CRUDE STATS | March 16, 2011

An undemanding week for products

DOE CRUDE STATS An undemanding week for products Motor gasoline and distillate stocks fell this week, though crude saw a net build, as runs increased and crude imports poured into PADD III . Total commercial inventories in the US drew -5.1m bbl, owing to the general decline in product stocks. US commercial inventories have declined rapidly since their peak this year of 1.08b bbl the first week of February, which was an all-time seasonal high. Apparent finished motor gasoline demand fe.....

CFTC COT | March 11, 2011

March 11, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending March 8. 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 climbed across the board in the petroleum complex this week. The rise in non-commercial net length in WTI was much weaker compared to the last couple .....

DOE CRUDE STATS | March 09, 2011

Pushing Cushing Upwards

DOE CRUDE STATS Pushing Cushing upwards This week’s data showed stock levels at Cushing surging to a new high as total US crude stocks built +2.5m bbl, while apparent distillate demand increased and apparent gasoline demand remained strong on the week. Cushing storage built +1.69m bbl, though total stocks in PADD II were flat. The fact that Cushing built even before maintenance season gets fully underway bodes ill for containment issues moving into the springtime, when inventories at t.....

CFTC COT | March 04, 2011

March 04, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending March 1. 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 jumped in WTI again this week, reaching yet another record high (since the CFTC started releasing disaggregated data in January 2010). Non-commercia.....

DOE CRUDE STATS | March 02, 2011

Cognitive dissonance

DOE CRUDE STATS Cognitive dissonance This week’s EIA report provides a set of distinctly mixed messages. Overall US commercial petroleum inventories continued to fall to Earth, but Cushing and PADD II crude stocks reached new highs once more. Midcontinent refiners are taking advantage of big WTI discounts and trying to stave off the impending maintenance season, US refiners more broadly are plunging into the depths of a significant maintenance season. Total apparent demand (product.....

CFTC COT | February 25, 2011

February 25, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending February 22. 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-commercials increased net length in WTI sharply to reach a new record high (since the CFTC started releasing disaggregated data in January 2010) this week. Non-commer.....