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.....
DOE CRUDE STATS
| February 24, 2011
Midcontinent maintenance
DOE CRUDE STATS Midcontinent maintenance This week’s apparent demand estimates show gasoline and distillate moving in opposite directions, with gasoline up 290 kb/d on the week and distillate down 330 kb/d. Though these estimates would be suggestive of impending gasoline strength, we are taking them with a grain of salt as they cover a period ahead of a holiday weekend, when refiners were likely to push additional gasoline out to wholesalers and to dial back distillate sales a bit (appar.....
CFTC COT
| February 18, 2011
February 18, 2011
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending February 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. The non-commercial net short position strengthened in the natural gas market and reached a new record low (since the CFTC started releasing disaggregated data in January 20.....
DOE CRUDE STATS
| February 16, 2011
Conspiracy theories
DOE CRUDE STATS Conspiracy theories From the demand estimates to storage numbers, this week’s EIA stats are filled with interesting points. Apparent demand for key products gained considerably as drivers enjoyed a week devoid of major snowstorms. The storage numbers should grab most attention, particularly the +250k bbl build at Cushing, which should continue to weigh on the front of the WTI curve. The opening of the Keystone extension to Cushing will likely garner most credit for ri.....
CFTC COT
| February 11, 2011
February 11, 2011
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending February 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-commercials increased net length in WTI slightly and reduced net length in gasoline and heating oil this week. Net longs rose by 2.2k to 228.5k in futures only and by 8......
DOE CRUDE STATS
| February 09, 2011
Can Cushing Clean Up?
DOE CRUDE STATS Can Cushing clean up? Total apparent demand (product supplied) jumped 0.5 mb/d, but the increase was mostly attributable to a 0.55 mb/d gain in other oils. Both gasoline and distillate apparent demand have continued to sputter along, hindered by a winter of repeated snowstorms disrupting ground travel; four-week average demand for the two products are basically flat with last year’s very low levels. Meanwhile, Cushing abruptly reversed the past two weeks of contraseasonal.....
CFTC COT
| February 04, 2011
February 04, 2011
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending February 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 increased in WTI and gasoline and was flat in heating oil this week. Net longs rose by 21.6k to 226.3k in futures only and by 28.0k to 291.6k in fu.....
DOE CRUDE STATS
| February 02, 2011
Does it take PADD II to contango?
Does it take PADD II to contango? Apparent demand estimates continued to exhibit weakness across the board this week. Only distillate demonstrated significant w-o-w gains (+180 kb/d), though four-week average apparent distillate demand continues to plumb the depths of 2009-10 levels. Meanwhile, a surge of gasoline imports contributed to a big +6.2m bbl build of gasoline inventories to a new record above 236m bbl. But the market’s attention will likely remain focused on Cushing crude inventor.....