CFTC COT
| October 01, 2010
October 01, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending September 28. 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. In our discussion of trader positions, we aggregate data on swap contracts along with futures and options, which can present a different picture than detailing the headline N.....
DOE CRUDE STATS
| September 29, 2010
Suspicious Minds
DOE CRUDE STATS Suspicious minds Taken at face value, this week’s stats are the most supportive that we’ve seen in some time, but the veracity of some of the key numbers seems quite dubious. US apparent demand (product supplied) jumped 530 kb/d w-o-w, on the back of a suspicious 540 kb/d increase of apparent mogas demand and a 210 kb/d increase in apparent distillate demand. Meanwhile, the reported 3.5m bbl gasoline inventory withdrawal slashed a chunk out of the yoy surplus, but likely .....
CFTC COT
| September 24, 2010
September 24, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending September 21. 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 resumption of operations in Enbridge’s Line 6A on September 17 prompted a fall in non-commercial net length in WTI during the week ending September 21. Non-commercial .....
DOE CRUDE STATS
| September 22, 2010
Gasoline weakness continues
DOE CRUDE STATS Gasoline weakness continues The impact of Enbridge’s pipeline troubles appears more muted than much of the market had anticipated and apparent demand estimates are looking particularly weak (especially for gasoline). Apparent gasoline demand has continued to crumble into the shoulder season, falling another -170 kb/d, the lowest reading since last winter. Both on a weekly basis and the four-week average, apparent gasoline demand is no higher than it was at this time in 20.....
CFTC COT
| September 17, 2010
September 17, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending September 14. 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 discovery of the leak and subsequent shutdown of Enbridge’s Line 6A on September 9 prompted a sharp increase in non-commercial net length across the petroleum complex d.....
DOE CRUDE STATS
| September 15, 2010
My name is Earl
DOE CRUDE STATS My name is Earl Gasoline inventories may have declined for the fourth straight week, but it hasn’t exactly been due to strong demand. During that time, inventories have fallen just -1.1m bbl and remain at a record high for this time of year. But this week’s draw has far more to do with supply-side; between domestic refinery output and gasoline imports, supply dropped -759 kb/d, with hurricane Earl likely wielding an impact along the East Coast. Lower gasoline imports into.....
CFTC COT
| September 10, 2010
September 10, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending September 7. 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 the petroleum complex during the week ending September 7. WTI and gasoline saw slight increases while the increase was sharper in he.....
DOE CRUDE STATS
| September 09, 2010
Not with a Bang...
DOE CRUDE STATS Not with a bang… The curtain is drawing to on the weak 2010 gasoline season, with apparent mogas demand down -120 kb/d last week to 9.26 mb/d ahead of the Labor Day holiday. Meanwhile, refiners haven’t been able to resist pushing gasoline into the market. Apparent distillate demand held steady at 3.93 mb/d. Principal product demand did increase by 150 kb/d during the week,but primarily due to a 290 kb/d increase in apparent resid and jet/kero demand. Major data points: .....
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.....