Beyond The Breakers Trading

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 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.

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. 

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.

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

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.

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.