DOE CRUDE STATS | June 24, 2009

The End of the Gasoline Season

DOE CRUDE STATS | June 17, 2009

June 17, 2009

DOE CRUDE STATS A large crude draw offset by an equally large gasoline build. Apparent gasoline demand jumps 210 kb/d w-o-w but the four-week average barely moves. Runs drop 73 kb/d w-o-w but the gasoline yield jumps to 62.2%. Imports tick up 67 kb/d and are back above 9 mb/d. US crude oil: -3874k (Bloomberg median -1750k) US gasoline: +3385k (Bloomberg +500k) US distillate: +308k (Bloomberg +900k) Refining: +0.05 (Bloomberg 0.0%) Cushing crude: -5k See attached for graphs US cr.....

DOE CRUDE STATS | June 10, 2009


We've included a correction in the first sentence: runs are down nearly 1 mb/d from the 5yr average, not week on week as previously implied.

DOE CRUDE STATS | June 10, 2009

June 10, 2009

DOE CRUDE STATS Stock draws came in well above expectations for crude, gasoline and distillates, but refinery runs are down nearly 1 mb/d and demand data continue to look very weak. US crude oil: -4382k (Bloomberg median +100k) US gasoline: -1.553k (Bloomberg median +750k) US distillate: -318k (Bloomberg median +1500k) Refining: -0.41% (Bloomberg median +0.2%) Cushing: -942k See attachment for charts Headline number of 4.4m bbl draw in crude (4.0 mbbl draw east of the Rockies), d.....

DOE CRUDE STATS | June 03, 2009

Back to Bearish Realities

This week's EIA data release returns to earlier trend lines of languishing demand and commercial inventories that refuse to decline. The major demand data point was the week on week 518k b/d drop in apparent gasoline demand, reflecting last week's steep increase of pre-memorial day holiday deliveries. With the exception of last week's blip, gasoline demand has remained fairly stagnant at around 9 mb/d. The other major data point is crude oil inventories, which built by 2.866 m bbls, but excludi… .......

DOE CRUDE STATS | May 28, 2009

May 28, 2009

DOE CRUDE STATS Another week of bullish crude draws and a big seasonal bounce in gasoline demand, but a look at seasonal patters still shows some risk of a weak summer driving season. US crude: -5413k (vs. -150k Bloomberg median) US gasoline: -537k (vs. -1300k consensus) US distillate: +248k (vs. +1000k consensus) Cushing crude: +1064k Crude inventories highlighted by seasonal 4.2m bbl draw (2.2% wow) in Padd 3, and 1.1m bbl build (3.6% wow) in Cushing. Padd 3 stocks at 186m bbls a.....

DOE CRUDE STATS | May 20, 2009

Another week of deceptive stock draws

US total commercial stocks drew a mere 764k bbls, despite the bullish headline crude (-2.105m bbls) and gasoline (-4.337m bbls) inventory draw, as crude oil imports, at 8.791 failed to recover very much after last weekâ??s drop of 1.2m b/d. Crude oil inventories: Drew 2105k bbls versus expected draw of 800k bbls and API draw of 4629k bbls. Gasoline inventories: drew 4337k bbls versus expected draw of 1350k bbls and API data showing a draw of 4154k bbls. Distillate inventories: built by 6… .......

DOE CRUDE STATS | May 13, 2009

Wish fulfillment â?? US Inventory Data reinforce recent bullish market sentiment

DOE CRUDE STATS + Wish fulfillment – US Inventory Data reinforce recent bullish market sentiment + -Crude Oil: Total stocks drew 4.629m bbls, vs. market consensus of a 1 m bbl build and a mirror image of yesterday’s API data. PADD II stocks drew 1.311m bbls, with Cushing down 933m bbls. -Gasoline: Inventories drew 4.154m bbls, vs. market consensus of a modest 167k bbl draw and with stocks down everywhere but PADD IV -Distillate: Stocks continued to build by 1.25m bbls, and .....

DOE CRUDE STATS | May 06, 2009

Supportive crude stocks offset by weak demand

DOE CRUDE STATS The most supportive stock numbers in weeks are offset by incredibly weak demand data. US Crude: +605k (Bloomberg median +2500k) US Gasoline: -167k (vs. +550k Bloomberg median) US Distillate: +2428k (vs. +900k Bloomberg median) Refinery utilization: +2.65% (vs +0.25% Bloomberg median) Cushing crude: +56k Total US crude stocks disappointed expectations, building by just 605 kbbl last week (vs. expectations of 2500k). However, PADD V (West Coast) stocks grew by 2.3 .....

DOE CRUDE STATS | April 29, 2009

Another week of crude builds and refinery margin management

Mid week DOE/EIA statistics show another large unanticipated crude build (+4.053m bbls) accompanied by a huge drop of gasoline inventories (4.685m bbls), reflecting refiner margin maintenance across the countrry.