Oil prices remain near the five-month highs hit earlier in the day. Brent crude futures hit a high of $70.86 per barrel, with instability in Libya raising the prospect of further supply constraints at the same time that Opec, the cartel of oil-producing nations, has made cuts to production.
Next EIA report out Wedneday at 9:30am
Latest Release Apr 03, 2019 Actual 7.238M Forecast -0.425M Previous 2.800M
|Apr 03, 2019||10:30||7.238M||-0.425M||2.800M|
|Mar 27, 2019||10:30||2.800M||-1.100M||-9.589M|
|Mar 20, 2019||10:30||-9.589M||0.309M||-3.862M|
|Mar 13, 2019||10:30||-3.862M||2.655M||7.069M|
|Mar 06, 2019||11:30||7.069M||1.203M||-8.647M|
|Feb 27, 2019||11:30||-8.647M||2.842M||3.672M|
The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than e
Weekly US ending stocks of crude oil.
Weekly ending stocks for unleaded gasoline.
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).
Current gas prices:
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..... gone fishn' @ 59-32 ............... dude.... the "houston boys know" ....
... nice Striper.... we eat good 2 night
59.32 .... its a (cr)-k-eeper .....
.................... dude ....... somebody has dipped their beak in this ........ SHIRLEY !!!
Crude prices have set some pretty high expectations for tomorrow's EIA report. If the API isnt supportive tonight, it could be a blood bath. I get Libya has its issues, but that is like saying the sun is coming up tomorrow.
Another big increase but oil is still holding and is actually up slightly on the day. Oh My . . . .
Agree Richard, this is very impressive price performance!
Latest Release Apr 10, 2019 Actual 7.029M Forecast2.294 M Previous 7.238M
May Gann Crude Oil (wk)
Started by tallpine - April 8, 2019, 9:16 p.m.
I think it is safe to say that unleaded is pulling crude now. In addition you have OPEC cutting output and Venezuela collapsing. Implied demand is also pretty strong. How many weeks has unleaded has draws....15 now I think? I'm long some unleaded contracts and will sit back and enjoy the ride I guess. I'll put my opinions on the shelf for now. Even with a 7MB build, it's hard to be bearish in the face of a 7+ withdrawal of unleaded and 14-15 weeks of withdrawals.