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.

DOE CRUDE STATS | April 22, 2009

Another bearish week

DOE CRUDE STATS DOE Stats: Another bearish inventory build, combined with huge counter-seasonal product builds and still-faltering demand indicate the market turning point will come late in Q2 at earliest. Crude: +3857k bbls, all East of Rockies, vs. expected +2500k and vs. last year (+2421); SPR stocks grew by another 1.2m bbls. Cushing +309k bbls, first increase since mid March but still above any similar period in the past. Gasoline: + 802k bbls, vs. expected (-700k bbls) and 4......