NORTH AMERICAN RIG WATCH | July 11, 2014

July 11, 2014

Baker Hughes shows 1,874 active rigs as of July 11, 2014, higher by +1 from the previous week. Oil rigs increased by +1 to 1,563 (ht: +7; vt-dir: -6) while the number of gas-directed rigs remained unchanged. (ht: +1; vt-dir: -1) Horizontal oil rigs increased by +3 to 200 in the Eagle Ford (TX) while vertical/directional oil rigs decreased by -1 to 218 in the Permian (TX). Gas-directed horizontal rigs increased by+3 to 22 in Marcellus ( NEPA ).

NGL MARKET RECAP | July 11, 2014

July 11, 2014

Propane: US propane inventories increased by +3.8m bbl to 60.1m bbl for the week ended July 4, 2014. PADD 3 inventories increased +6%, or +1.9m bbl, to 34.0m bbl. PADD 2 stocks increased +8% or by +1.4m bbl to 18.9m bbl. In PADD 1, stocks increased +12% or +510k bbl to 4.7m bbl. Implied demand fell -20% to 733 kb/d; imports increased +47% to 84 kb/d while production decreased -2% to 1.50 mb/d last week. In Focus: Expanded charts This week we have included our expanded charts, includi.....

DOE CRUDE STATS | July 09, 2014

July 09, 2014

U.S. crude oil inventories fell by -2370k bbl in the week ended July 04, while Cushing stocks rose by +447k bbl. Distillate inventories increased by +227k bbl and gasoline inventories grew by +579k bbl. We also remind our clients that in-depth analysis of DOE weekly petroleum statistical releases can be conducted using the “Commodities Analytical Toolkit” in the Data Portal section of our website ( www.lcmc-research.com ). Major data points: Crude oil inventories : Declined by -2.37m b.....

CFTC COT | July 07, 2014

Commitments of Traders Report – July 07, 2014

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ended July 01. We provide all Legacy and Disaggregated trader positions for natural gas, WTI , Brent, gasoline and heating oil. Non-commercials increased net length in heating oil , but decreased in natural gas, Brent, gasoline and WTI during the reference week. Non-commercials net length in natural gas declined by -47.0k to +258.7k in futures and fell by -52.8k to +371.9k in futu.....

NORTH AMERICAN RIG WATCH | July 07, 2014

July 7, 2014

Baker Hughes shows 1,873 active rigs as of July 4, 2014, higher by +1 from the previous week. Oil rigs increased by +4 to 1,562 (ht: +5; vt-dir: -1) while gas-directed rigs decreased by -3 to 311 (ht: 0 ; vt-dir: -3). Horizontal oil rigs increased by +3 to 197 in the Eagle Ford (TX) and vertical/directional oil rigs increased by +4 to 219 in the Permian (TX). Gas-directed horizontal rigs decreased by -2 to 19 in Marcellus ( NEPA ) but increased by +2 to 15 in Barnett (TX).

NGL MARKET RECAP | July 02, 2014

July 2, 2014

Propane: US propane inventories increased by +2.6m bbl to 56.2m bbl for the week ended June 27, 2014. PADD 3 inventories increased +6%, or +1.9m bbl, to 32.1m bbl. PADD 2 stocks increased +2% or by +386k bbl to 17.5m bbl. In PADD 1, stocks increased +4% or +143k bbl to 4.2m bbl. Implied demand increased +2% to 916 kb/d; imports increased +8% to 57 kb/d and production increased +3% to 1.53 mb/d last week. In Focus: U.S. butane hits the international market According to the latest EIA.....

DOE CRUDE STATS | July 02, 2014

July 2, 2014

U.S. crude oil inventories fell by -3155k bbl in the week ended June 27, while Cushing stocks declined by -1359k bbl. Distillate inventories increased by +975k bbl and gasoline inventories declined by -1235k bbl. We also remind our clients that in-depth analysis of DOE weekly petroleum statistical releases can be conducted using the “Commodities Analytical Toolkit” in the Data Portal section of our website ( www.lcmc-research.com ). Major data points: Crude oil inventories : Fell by -3.....

CFTC COT | June 30, 2014

Commitments of Traders Report – June 30, 2014

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ended June 24. We provide all Legacy and Disaggregated trader positions for natural gas, WTI , Brent, gasoline and heating oil. Non-commercials increased net length in heating oil, Brent and gasoline , but decreased in natural gas and WTI during the reference week. Non-commercials net length in natural gas decreased by -9.5k to +305.7k in futures and fell by -20.7k to +424.7k in f.....

NORTH AMERICAN RIG WATCH | June 27, 2014

June 27, 2014

Baker Hughes shows 1,872 active rigs as of June 27, 2014, higher by +16 from the previous week. Oil rigs increased by +13 to 1,558 (ht: +11; vt-dir: +2) while gas-directed rigs increased by +3 to 314 (ht: +2; vt-dir: +1). Horizontal oil rigs increased by +7 to 135 in Anadarko (OK). Gas-directed horizontal rigs increased by +3 to 21 in Marcellus (WV).

NGL MARKET RECAP | June 25, 2014

June 25, 2014

Propane: US propane inventories increased by +2.4m bbl to 53.7m bbl for the week ended June 20, 2014. PADD 3 inventories increased +5%, or +1.5m bbl, to 30.2m bbl. PADD 2 stocks increased +4% or by +593k bbl to 17.2m bbl. In PADD 1, stocks increased +7% or +251k bbl to 4.1m bbl. Implied demand fell -4% to 894 kb/d; imports decreased -30% to 53 kb/d and production increased +2% to 1.49 mb/d last week. In Focus: what do condensate exports mean for naphtha? As we discussed in a recent r.....