Beyond The Breakers Trading

The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 10.8 million barrels for the week ended July 19. That was more than double the 4.4 million-barrel decline expected by analysts polled by S&P Global Platts.

The American Petroleum Institute on Tuesday reported an 11 million-barrel drop, according to sources. The EIA data also showed that gasoline inventories were down by 200,000 barrels, while distillate stockpiles rose by 600,000 barrels last week.

The S&P Global Platts survey had shown expectations for a supply decrease of 1.1 million barrels for gasoline, while distillates were forecast to rise by 1.7 million barrels.

September West Texas Intermediate crude was up 64 cents, or 1.1%, to $57.41 a barrel on the New York Mercantile Exchange. Prices were trading at $57.20 before the supply data (link).

Summary of weekly petroleum data for the week ending June 28, 2019

U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 28, 2019, which was 47,000 barrels per day less than the previous week’s average. Refineries operated at 94.2% of their operable capacity last week.

• Gasoline production decreased last week, averaging 9.9 million barrels per day.
• Distillate fuel production increased last week, averaging 5.3 million barrels per day.

Imports

U.S. crude oil imports averaged 7.6 million barrels per day last week, up by 929,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.3 million barrels per day, 13.1% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 536,000 barrels per day, and distillate fuel imports averaged 98,000 barrels per day.
 

Products inventories

• Total motor gasoline inventories decreased by 1.6 million barrels last week and are at the five year average for this time of year.
• Finished gasoline and blending components inventories both decreased last week.
• Distillate fuel inventories increased by 1.4 million barrels last week and are about 6% below the five year average for this time of year.
• Propane/propylene inventories increased by 1.3 million barrels last week and are about 11% above the five year average for this time of year.
• Total commercial petroleum inventories increased by 2.5 million barrels last week.

Products supplied

Total products supplied over the last four-week period averaged 20.9 million barrels per day, virtually unchanged from the same period last year. Over the past four weeks:

• Motor gasoline product supplied averaged 9.7 million barrels per day, down by 0.1% from the same period last year.
• Distillate fuel product supplied averaged 4.1 million barrels per day over the past four weeks, up by 1.6% from the same period last year.
• Jet fuel product supplied was up 2.2% compared with the same four-week period last year.

Source: EIA

U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 21, 2019, which was 73,000 barrels per day more than the previous week’s average.

Refineries operated at 94.2% of their operable capacity last week. Gasoline production increased last week, averaging 10.5 million barrels per day. Distillate fuel production decreased last week, averaging 5.3 million barrels per day.

U.S. crude oil imports averaged 6.7 million barrels per day last week, down by 812,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.4 million barrels per day, 10.2% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 816,000 barrels per day, and distillate fuel imports averaged 33,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.8 million barrels from the previous week. At 469.6 million barrels, U.S. crude oil inventories are about 5% above the five year average for this time of year.

Total motor gasoline inventories decreased by 1.0 million barrels last week and are at the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.4 million barrels last week and are about 7% below the five year average for this time of year.

Propane/propylene inventories increased by 1.4 million barrels last week and are about 13% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 11.9 million barrels last week.

Info Source: StreetInsider

U.S. crude oil refinery inputs averaged 16.8 million barrels per day during the week ending May 24, 2019, which was 189,000 barrels per day more than the previous week’s average. Refineries operated at 91.2% of their operable capacity last week.

Gasoline production decreased last week, averaging 9.9 million barrels per day. Distillate fuel production decreased last week, averaging 5.2 million barrels per day.

U.S. crude oil imports averaged 6.9 million barrels per day last week, down by 81,000 barrels per day from the previous week.

Over the past four weeks, crude oil imports averaged about 7.0 million barrels per day, 8.5% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1,087,000 barrels per day, and distillate fuel imports averaged 177,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.3 million barrels from the previous week. At 476.5 million barrels, U.S. crude oil inventories are about 5% above the five year average for this time of year. Total motor gasoline inventories increased by 2.2 million barrels last week and are about 1% above the five year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week.

Distillate fuel inventories decreased by 1.6 million barrels last week and are about 5% below the five year average for this time of year. Propane/propylene inventories decreased by 0.1 million barrels last week and are about 17% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 1.6 million barrels last week.

Total products supplied over the last four-week period averaged 20.3 million barrels per day, down by 2.0% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.5 million barrels per day, down by 2.2% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per day over the past four weeks, down by 2.6% from the same period last year. Jet fuel product supplied was up 2.9% compared with the same four-week period last year.

Source: StreetInsider

Summary of Weekly Petroleum Data for the week ending February 22, 2019

U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending February 22, 2019, which was 179,000 barrels per day more than the previous week’s average. Refineries operated at 87.1% of their operable capacity last week.

Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 5.9 million barrels per day last week, down by 1,605,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.7 million barrels per day, 10.9% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 473,000 barrels per day, and distillate fuel imports averaged 331,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.6 million barrels from the previous week. At 445.9 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year. Total motor gasoline inventories decreased by 1.9 million barrels last week and are about 3% above the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week.

Distillate fuel inventories decreased by 0.3 million barrels last week and are about 2% below the five year average for this time of year. Propane/propylene inventories decreased by 1.2 million barrels last week and are about 11% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 17.9 million barrels last week.

Total products supplied over the last four-week period averaged 20.8 million barrels per day, up by 2.1% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, down by 1.5% from the same period last year.

Distillate fuel product supplied averaged 4.2 million barrels per day over the past four weeks, up by 4.5% from the same period last year. Jet fuel product supplied was up 2.5% compared with the same four-week period last year.

Data Source: StreetInsider

Summary of Weekly Petroleum Data for the week ending February 8, 2019

U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending February 8, 2019, which was 865,000 barrels per day less than the previous week’s average.

Refineries operated at 85.9% of their operable capacity last week. Gasoline production decreased last week, averaging 9.6 million barrels per day. Distillate fuel production decreased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 6.2 million barrels per day last week, down by 936,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.2 million barrels per day, 11.2% less than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 457,000 barrels per day, and distillate fuel imports averaged 438,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week. At 450.8 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year.

Total motor gasoline inventories increased by 0.4 million barrels last week and are about 4% above the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.

Distillate fuel inventories increased by 1.2 million barrels last week and are about 2% below the five year average for this time of year. Propane/propylene inventories increased by 0.7 million barrels last week and are about 11% above the five year average for this time of year. Total commercial petroleum inventories increased last week by 6.5 million barrels last week.

Total products supplied over the last four-week period averaged 20.8 million barrels per day, up by 0.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.0 million barrels per day, up by 0.7% from the same period last year.

Distillate fuel product supplied averaged 4.3 million barrels per day over the past four weeks, up by 6.5% from the same period last year. Jet fuel product supplied was up 1.2% compared with the same four-week period last year.

Data Source: StreetInsider

The Energy Information Administration reported Thursday that domestic crude supplies climbed by 6 million barrels for the week ended Oct. 5.

The data were released a day later than usual because of Monday’s Columbus Day holiday. Analysts surveyed by S&P Global Platts had forecast an increase of 1.61 million barrels, while the American Petroleum Institute on Wednesday reported a climb of 9.7 million barrels.

Gasoline stockpiles also rose by 1 million barrels last week, while distillate stockpiles declined by 2.7 million barrels, according to the EIA.

The S&P Global Platts survey had shown expectations for a supply rise of 422,000 barrels in gasoline and 1.71 million-barrel decline in distillates.

November crude CLX8, +0.30% fell $1.30, or 1.8%, to $71.87 a barrel on the New York Mercantile Exchange. That’s up from $71.63 before the supply data.

Source: MarketWatch

U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending September 28, 2018, which was 77,000 barrels per day more than the previous week’s average. Refineries operated at 90.4% of their operable capacity last week.

Gasoline production increased last week, averaging 10.0 million barrels per day. Distillate fuel production increased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged 8.0 million barrels per day last week, up by 163,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.8 million barrels per
day, 10.2% more than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 713,000 barrels per day, and distillate fuel imports averaged 162,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.0 million barrels from the previous week. At 404.0 million barrels, U.S. crude oil inventories are at the five year average for this time of year. Total motor gasoline inventories decreased by 0.5 million barrels last week and are about 7% above the five year average for this time of year.

Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 1.8 million barrels last week and are about 3% below the five year average for this time of year.

Propane/propylene inventories increased by 2.4 million barrels last week and are about 8% below the five year average for this time of year. Total commercial petroleum inventories increased last week by 8.0 million barrels last week.

Source: EIA

Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 0.8 million barrels last week and are about 2% below the five year average for this time of year. Propane/propylene inventories increased by 0.1 million barrels last week and are about 12% below the five year average for this time of year. Total commercial petroleum inventories decreased last week by 0.4 million barrels last week.