CFTC COT
| May 14, 2010
May 14, 2010
Please find attached a summary of the this week’s CFTC Commitment of Traders report for major energy markets. The week ending May 11 was marked by a large exit from net long positions by money managers in WTI , RBOB , and heating oil markets as the petroleum complex plummeted(see attached PDF file for details). For NYMEX WTI , the non-commercial net long position dropped by 17k to 93k contracts in futures only and by 21k to 170k futures and options. Net long product positions fell eve.....
DOE CRUDE STATS
| May 12, 2010
Refiners yield
DOE CRUDE STATS May 12, 2010 Refiners yield The surprise 2.8m bbl draw in gasoline inventories grabbed the attention of gasoline optimists, but the stock draw does not appear to be the work of revitalized demand. In fact, apparent gasoline demand data looked bleaker this week and is providing fodder for skeptics of recovering demand. The stock draw was far more the result of refiners responding to distillate cracks by boosting distillate yields, as well as lower gasoline imports. At 59.....
DOE CRUDE STATS
| May 12, 2010
Data and Graphs
DOE CRUDE STATS Please see attached file for detailed stats and charts from this week’s EIA report. Analysis to follow.
DOE CRUDE STATS
| May 05, 2010
A flash of demand strength
DOE CRUDE STATS A flash of demand strength This week’s EIA report indicates sudden strength in apparent demand statistics. Total product supplied increased by 1.04 mb/d w-o-w to 19.5 mb/d, the highest weekly reading since early March. But while much of the strength in the March numbers came from the Other Oils category, apparent principal product demand gained 0.45 mb/d on the week to 15.1 mb/d, the highest weekly number since March of 2009. Gains were experienced in distillate (+0.3 m.....
DOE CRUDE STATS
| April 28, 2010
Stocks still building
DOE CRUDE STATS Stocks still building The demand numbers don’t look quite as bearish as last week’s but inventories continue to paint a bleak picture. Total commercial inventories grew by another 12.9m bbl, coming within arm’s reach of last year’s very high levels, building at a faster pace than in Apr09. During the past few weeks, we have focused on the potential imbalances in the gasoline market. Although gasoline inventories did fall by 1.24m bbl, the yoy surplus widened to 11.1m bbl......
DOE CRUDE STATS
| April 21, 2010
Bearish stats emerge from hibernation for a week
April 21, 2010 Bearish stats emerge from hibernation for a week This week’s EIA report didn’t contain many supportive numbers. Stats looked bearish pretty much across the petroleum complex. On the demand side, total product supplied (apparent demand) fell 0.53 mb/d on the week, including a 0.3 mb/d drop in principal product demand (primarily due to declines in gasoline and distillate). Meanwhile, refiners curbed throughput slightly, but the jump in primary product yields sent gasoline pr.....
DOE CRUDE STATS
| April 14, 2010
Runs still rising
DOE CRUDE STATS April 14, 2010 Runs still rising Double-digit gasoline cracks have looked very attractive to refiners, who ramped up runs by another 209 kb/d, including increases across al regions. Runs have increased 800 kb/d (4wk average) since early Feb, even with PADD II refineries yet to exit maintenance season. Along the Gulf Coast, throughput reached its highest level since August 2007. Total product supplied (apparent demand) increased 110 kb/d due to a 250 kb/d jump in gas.....
DOE CRUDE STATS
| April 07, 2010
Runs continue to surge
DOE CRUDE STATS April 7, 2010 Runs continue to surge This week’s big news was the jump in US refining throughput, concentrated in PADD III (Gulf Coast). Total US refinery runs reached 14.6 mb/d for the week, on par with runs during this time of year in 2007. Not only are refiners signaling that current crack spreads incentive enough to ramp of runs ahead of the summer driving season, but they are shifting their output to capture the distillate spreads, which strengthened relative t.....
DOE CRUDE STATS
| March 31, 2010
Stepping on the gasoline market
DOE CRUDE STATS March 31, 2010 Stepping on the gasoline market Demand for major product classes continued to move sideways, leaving apparent demand for principal products unchanged on the week. Gasoline apparent demand continues to track just below year-ago levels (4wk avg -0.45% yoy) with weekly distillate demand numbers failing to reflect any rebound in economic activity (4wk avg -1.48% yoy). The strongest product class continues to be the Other category, with apparent demand up 0.62.....
DOE CRUDE STATS
| March 24, 2010
Pointing toward gasoline weakness
DOE CRUDE STATS March 24, 2010 Pointing toward gasoline weakness This week’s headline numbers include the largest crude inventory build in 16 months. But with this number more than likely reflects seasonal stock building amplified by the transfer of some floating storage to measured inland stocks. Overall, the data continue to point toward a second consecutive year of massive inventory builds through the summer. This time, the culprit is more likely to be gasoline than distillate. Ma.....