2018 - Page 2 of 4 - Beyond The Breakers Trading

Trump, E.U. Announce Deal to Avert Escalation of Trade Tensions

Several of President Trump’s senior economic advisers believe he plans to push forward with 25 percent tariffs on close to $200 billion in foreign-made automobiles later this year, three people briefed on internal discussions said.

Trump wants to move forward despite numerous warnings from GOP leaders and business executives who have argued that such a move could damage the economy and lead to political mutiny.

But Trump has become increasingly defiant in his trade strategy, following his own instincts and intuition and eschewing advice from his inner circle. He has told advisers and Republicans to simply trust his business acumen, a point he tried to reinforce Wednesday morning in a Twitter post.

In a late development, Trump and E.U. president Jean-Claude Juncker announced a limited trade deal meant to ratchet down tensions. So…that’s good, I guess.

EIA: Commercial Crude Oil Inventories Increased by 5.8 Million Barrels

Below are the key takeaways from the weekly report published by the U.S. Energy Information Administration.

U.S. crude oil refinery inputs averaged 17.2 million barrels per day during the week ending July 13, 2018, which was 413,000 barrels per day less than the previous week’s average.
U.S. crude oil imports averaged 9.1 million barrels per day last week, up by 1,635,000 barrels per day from the previous week.
U.S. commercial crude oil inventories increased by 5.8 million barrels from the previous week.
Total products supplied over the last four-week period averaged 20.7 million barrels per day, down by 0.3% from the same period last year.

U.S. oil prices tumble even after biggest weekly supply drop in nearly 2 years 11 July 2018

U.S. Oil Prices Pare Losses after EIA Reports a Weekly Plunge in U.S. Crude Supplies

U.S. oil prices pared much of their earlier losses Wednesday after the Energy Information Administration reported that domestic crude supplies plunged by 12.6 million barrels for the week ended July 6. Analysts surveyed by S&P Global Platts had forecast a fall of 4.8 million barrels, while the American Petroleum Institute on Tuesday reported a drop of 6.8 million barrels, according to sources.

Gasoline stockpiles fell by 700,000 barrels for the week, but distillate stockpiles jumped 4.1 million barrels higher for the week, according to the EIA.

The S&P Global Platts survey forecast a supply decrease of 1 million barrels for gasoline and a rise of 1.7 million barrels for distillate stocks.

August crude CLQ8, -0.67 fell 40 cents, or 0.5%, to $73.71 a barrel on the New York Mercantile Exchange, up from $73.27 before the supply data.

EIA: Commercial crude oil inventories increased by 1.2 million barrels from previous week

Below are the key takeaways from the weekly report published by the U.S. Energy Information Administration.

U.S. crude oil refinery inputs averaged 17.7 million barrels per day during the week ending June 29, 2018, which was 163,000 barrels per day less than the previous week’s average.
U.S. crude oil imports averaged 9.1 million barrels per day last week, up by 699,000 barrels per day from the previous week.
U.S. commercial crude oil inventories increased by 1.2 million barrels from the previous week.
Total products supplied over the last four-week period averaged 20.9 million barrels per day, up by 1.4% from the same period last year.

EIA Crude Oil Inventory Report for the Week Ending June 22, 2018

U.S. crude oil refinery inputs averaged 17.8 million barrels per day during the week ending June 22, 2018, which was 115,000 barrels per day more than the previous week’s average. Refineries operated at 97.5% of their operable capacity last week.

Gasoline production increased last week, averaging 10.1 million barrels per day. Distillate fuel production decreased last week, averaging 5.4 million barrels per day.

U.S. crude oil imports averaged 8.4 million barrels per day last week, up by 114,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 8.3 million barrels per day, 2.4% more than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 988,000 barrels per day, and distillate fuel imports averaged 54,000 barrels per day.

Source: eia.gov

Oil prices climb higher after bigger-than-expected weekly fall in U.S. crude supplies June 20, 2018

Oil Prices Climb Higher as Weekly Fall in U.S. Crude Supplies

The U.S. Energy Information Administration reported Wednesday that crude supplies dropped by 5.9 million barrels for the week ended June 15.

Analysts surveyed by S&P Global Platts had forecast a fall of 3.7 million barrels, while the American Petroleum Institute on Tuesday reported a decline of 3 million barrels, according to sources. Gasoline stockpiles, however, rose by 3.3 million barrels for the week, while distillate stockpiles climbed by 2.7 million barrels, according to the EIA.

The S&P Global Platts survey forecast a supply fall of 1 million barrels for gasoline, and expected distillate stocks to be down by 700,000 barrels.

July crude CLN8, +1.91% rose 90 cents, or 1.4%, to $65.97 a barrel on the New York Mercantile Exchange, up from $65.81 before the supply data.

Weekly Crude Inventory Data Shows Larger Than Expected Draw

U.S.crude oil refinery inputs averaged 17.5 million barrels per day during the week ending June 8, 2018, which was 136,000 barrels per day more than the previous week’s average. Refineries operated at 95.7% of their operable capacity last week.

Gasoline production increased last week, averaging about 10.5 million barrels per day. Distillate fuel production decreased last week, averaging more than 5.1 million barrels per day.

U.S. crude oil imports averaged about 8.1 million barrels per day last week, down by 247,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 8.1 million barrels per day, 1.3% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 824,000 barrels per day, and distillate fuel imports averaged 104,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.1 million barrels from the previous week. At 432.4 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 2.3 million barrels last week and are in the upper half of the average range. Both finished gasoline and blending components inventories decreased last week.

Distillate fuel inventories decreased by 2.1 million barrels last week and are in the lower half of the average range for this time of year. Propane/propylene inventories increased by 3.7 million barrels last week and are in the lower half of the average range.

Total commercial petroleum inventories decreased by 1.8 million barrels last week. Total products supplied over the last four-week period averaged more than 20.4 million barrels per day, up by 1.7% from the same period last year.

Over the past four weeks, motor gasoline product supplied averaged about 9.6 million barrels per day, up by 0.3% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per day over the past four weeks, down by 0.5% from the same period last year. Jet fuel product supplied was up 1.2% compared with the same four-week period last year.

Source: streetinsider.com

U.S. oil prices fall further after EIA reports a surprise weekly rise in domestic crude supplies 2018-06-06

U.S. Oil Prices Fall Further, Surprise Weekly Rise in Domestic Crude Supplies

The U.S. Energy Information Administration reported Wednesday that crude supplies climbed by 2.1 million barrels for the week ended June 1.

Analysts surveyed by S&P Global Platts had forecast a decline of 1.3 million barrels, while the American Petroleum Institute on Tuesday reported a fall of 2 million barrels, according to sources.

Gasoline stockpiles jumped by 4.6 million barrels for the week, while distillate stockpiles rose 2.2 million barrels, according to the EIA.

The S&P Global Platts survey forecast a supply decline of 600,000 barrels for gasoline, along with a climb of 700,000 barrels for distillates.

July crude CLN8, -0.73% was down 73 cents, or 1.1%, to $64.79 a barrel on the New York Mercantile Exchange, down from $65.43 before the supply data.

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

Yearly Archives: 2018