DOE CRUDE STATS | June 02, 2011

2 June 2011

Crude and gasoline stocks both gained on the week, with crude building +2.9m bbl to 373.8m bbl and total mogas up +2.6m bbl to 212.3m bbl. The crude build was aided by a 286 kb/d increase in imports. Though total mogas imports fell 208 kb/d, that drop distracts from the fact that 4-week average gasoline imports are still hovering above 1.1 mb/d. While refiners left crude runs relatively unchanged on the week, gasoline yields rose 1.1pp to 62.4%, boosting output 174 kb/d to 9.4 mb/d. Apparent mo.....

CFTC COT | May 27, 2011

May 27, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending May 24. 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 withdrawal of index investment from the commodities market continued for the fourth consecutive week, but was relatively lower at -$3.64 billion. Investors withdrew -$2.88 bil.....

DOE CRUDE STATS | May 25, 2011

A product-ive week for stocks

Product stocks saw considerable movement this week, with gasoline stocks building +3.8m bbl while distillate drew -2.0m bbl. Crude throughput jumped 494 kb/d, a sign of recovery from recent unplanned outages, yet is 776 kb/d under year-ago levels (4-week average). Imports likewise increased, with crude 662 kb/d higher and total mogas up another 585 kb/d. The rapid descent of PADD 1 mogas stocks between February and April has reversed sharply, with inventories building 8.5m bbl over the last 3 .....

CFTC COT | May 20, 2011

May 20, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending May 17. 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 week ended May 17 saw another fall in WTI net length but it was relatively more moderate compared to last week. Net length declined in gasoline and was flat in heating oil. .....

DOE CRUDE STATS | May 18, 2011

A week in the life of the US oil market

Stocks drew in both of the NYMEX storage centers, with crude -1.59m bbl lower in Cushing and total mogas down -0.7m bbl along the East Coast, though US crude stocks were flat on the week at 370.3m bbl. Crude imports rose 129 kb/d on a four-week average basis but continue to fall further below year-ago levels. A 490 kb/d drop in PADD III crude imports may reflect floodwaters interfering with offloading. Meanwhile, a 239 kb/d increase in crude runs, the bulk of it coming in PADD III , sug.....

CFTC COT | May 13, 2011

May 13, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending May 10. 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 impact of the sell-off in the commodity markets on May 5 is reflected in this week’s report as we had noted last time. Net length registered a steep drop in WTI , a milder fa.....

DOE CRUDE STATS | May 11, 2011

Life in the fast lane

This week’s numbers furthered an intense intraday sell-off in spot RBOB on the NYMEX , which appears likely to settle around 8% lower on the day. The DOE gasoline data catalyzed the collapse, though the reduced threat of flooding on the Gulf refinery complex also appeared to factor into the move. The market has been searching for tell-tale signs of the effect of soaring retail gasoline prices on demand going into the summer, with the uncertainty magnifying the price impact of today’s data. .....

CFTC COT | May 06, 2011

May 06, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending May 3. 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. Net length declined in WTI and gasoline, and increased in heating oil this week. Non-commercials reduced their net length in WTI by 15.7k to 318.7k in futures only, and by 14.9.....

DOE CRUDE STATS | May 04, 2011

A lesson in contrasts

This week’s DOE numbers show patterns in critical inventory numbers that are as contrasting as they are market-impacting. Commercial crude oil inventories, which are just 8.7m bbl under the all-time record high hit in 2009, built +3.4m bbl to 366.5m bbl, while gasoline stocks continued to plummet in PADD I and across the county. PADD I gasoline stocks drew -1.7m bbl to 48.0m bbl, and are now at their lowest level since Oct. 2008. Underlying the week’s crude build was a 389 kb/d slowdown in.....

CFTC COT | April 29, 2011

April 29, 2011

Please find attached data and charts detailing the latest CFTC Commitments of Traders Report for the week ending April 26. 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. Y-T-D inflows (+$33.10 billion) are now at the highest level since our calculations began in 2006. Index investment has been on a streak lately, climbing for the sixth consecuti.....