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 .....
CFTC COT
| October 08, 2010
October 08, 2010
Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending October 5. 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 sharply across the petroleum complex during the week as WTI rallied 8.7% to its highest point in five months. In WTI , net longs rose by .....
DOE CRUDE STATS
| October 06, 2010
Maintenance season in full swing
DOE CRUDE STATS Maintenance season in full swing Total US apparent demand (product supplied) fell -1.26 mb/d w-o-w, including a -0.39 mb/d drop in apparent principal product demand and a -0.64 mb/d drop in other oils. As we mentioned last week, the sudden jump in apparent gasoline demand was likely little more than a head fake; apparent demand indeed fell -0.39 mb/d this week to 8.99 mb/d (-0.28 mb/d yoy and flat on a 4wk average basis). The transient late-September jump this year (and.....
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.....