May 2018 - Beyond The Breakers Trading

U.S. oil prices pare declines after EIA reports a weekly drop in domestic crude supplies 31 May 2018

U.S. Oil Prices Pare Declines after EIA Reports Weekly Drop in Domestic Crude Supplies

The U.S. Energy Information Administration reported Thursday that crude supplies fell by 4.2 million barrels for the week ended May 25.

Analysts surveyed by S&P Global Platts had forecast a decline of 600,000 barrels, while the American Petroleum Institute on Wednesday reported a rise of 1 million barrels, according to sources. Data were released a day later than usual because of Monday’s holiday.

Gasoline stockpiles edged up by 500,000 barrels for the week, while distillate stockpiles also rose by 600,000 barrels, according to the EIA.

The S&P Global Platts survey forecast supply declines 1.5 million barrels for gasoline and nearly 1.1 million barrels for distillates. July crude CLN8, +0.19% was down 46 cents, or 0.7%, to $67.75 a barrel on the New York Mercantile Exchange, up from $67.14.

Crude Inventory Data Shows Surprise Build of 5.8M Barrels-2018-05-23

EIA: Crude Inventory Data Shows Surprise Build of 5.8M Barrels

U.S. crude oil refinery inputs averaged over 16.6 million barrels per day during the week ending May 18, 2018, 7,000 barrels per day less than the previous week’s average. Refineries operated at 91.8% of their operable capacity last week. Gasoline production increased last week, averaging over 10.0 million barrels per day. Distillate fuel production decreased last week, averaging over 4.9 million barrels per day.

U.S. crude oil imports averaged about 8.2 million barrels per day last week, up by 558 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.9 million barrels per day, 3.5% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1,063,000 barrels per day. Distillate fuel imports averaged 24,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.8 million barrels from the previous week. At 438.1 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year.

Total motor gasoline inventories increased by 1.9 million barrels last week, and are in the upper half of the average range. Finished gasoline and blending components inventories increased last week.

Distillate fuel inventories decreased by 1.0 million barrels last week and are in the lower half of the average range for this time of year.

Propane/propylene inventories increased by 0.7 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories increased by 6.7 million barrels last week.

Source: StreetInsider

Oil prices pare losses with U.S. supplies down a second week in a row, May 16, 2018

EIA: U.S. Crude Supplies Declined for a Second Week in a Row

The U.S. Energy Information Administration reported Wednesday that crude supplies declined by 1.4 million barrels for the week ended May 11.

Analysts surveyed by S&P Global Platts had forecast a decline of 2.3 million barrels, but the American Petroleum Institute on Tuesday reported a rise of nearly 4.9 million barrels, according to sources.

Gasoline stockpiles fell by 3.8 million barrels for the week, while distillate stockpiles inched down by 100,000 barrels, according to the EIA.

The S&P Global Platts survey forecast supply declines 2 million barrels for gasoline and 1.3 million barrels for distillates. June crude CLM8, +0.07% was down 31 cents, or 0.4%, to $71 a barrel on the New York Mercantile Exchange, up from $70.73

Crude Inventory Data Shows Surprise 2.2M Barrel Draw

Summary of Weekly Petroleum Data for the Week Ending May 4, 2018

U.S. crude oil refinery inputs averaged about 16.5 million barrels per day during the week ending May 4, 2018, 75,000 barrels per day less than the previous week’s average.

Refineries operated at 90.4% of their operable capacity last week. Gasoline production decreased last week, averaging over 9.9 million barrels per day. Distillate fuel production remained virtually unchanged last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged over 7.3 million barrels per day last week, down by 1,226 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 8.1 million barrels per day, 1.0% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 803,000 barrels per day. Distillate fuel imports averaged 128,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 433.8 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories decreased by 2.2 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.8 million barrels last week and are in the lower half of the average range for this time of year.

Propane/propylene inventories increased by 2.3 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories decreased by 1.5 million barrels last week.

Total products supplied over the last four-week period averaged about 20.3 million barrels per day, up by 2.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.5 million barrels per day, up by 2.2% from the same period last year.

Distillate fuel product supplied averaged over 4.2 million barrels per day over the last four weeks, up by 4.1% from the same period last year. Jet fuel product supplied is down 1.5% compared to the same four-week period last year.

Information Source: U.S. Energy Information Administration

U.S. crude stockpiles surge to highest level this year - Weekly Petroleum Status Report - EIA

EIA: U.S. Crude Stocks Post Surprise Build of 6M Barrels

U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories rose by 6.2 million barrels in the week to April 27, compared with expectations for an increase of 739,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 416,000 barrels, EIA said. Refinery crude runs fell by 60,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.3 percentage points.

Gasoline stocks rose 1.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 587,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 3.9 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.

Net U.S. crude imports rose last week by 263,000 barrels per day.

Source

Monthly Archives: May 2018