Crude Oil
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Started by Jim_M - June 5, 2019, 11:04 a.m.

Remember when just a 2-3 years ago how crude was going to skyrocket because of the lack of investment.  Yet, here we are in the opposite situation, swimming chin deep in it.  OPEC has to be shifting uncomfortably in their well as big oil.  All of OPECs cuts hasn't amounted to anything.  Now what do they do?  My goodness we are heading into $40!

Re: Crude Oil
By Richard - June 5, 2019, 12:03 p.m.
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The problem is not too much supply, the problem is demand is pathetic. It is looking like economic growth is currently around 1%. If we were above 3% the picture would be much different. There is absolutely no reason why we should be growing so slowly. Everyone is getting short crude. if something happens in the middle east, this thing is going to fly upwards twice as fast.

By Jim_M - June 5, 2019, 8:09 p.m.
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You wouldn't know demand was pathetic if you drive anywhere.  Traffic seems as miserable as it always does.  

Re: Crude Oil
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By silverspiker - June 5, 2019, 10:45 p.m.
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we can make it happen

By metmike - June 6, 2019, 1:16 a.m.
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By metmike - June 6, 2019, 1:19 a.m.
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Look at some of the huge increases in storage the past 6 weeks.!!!

Latest Release Jun 05, 2019 Actual  6.771M    Forecast-0.849M   Previous-0.282M


Release DateTimeActualForecastPrevious
Jun 05, 2019 10:306.771M-0.849M-0.282M
May 30, 2019 11:00-0.282M-0.857M4.740M
May 22, 2019 10:304.740M-0.599M5.431M
May 15, 2019 10:305.431M-0.800M-3.963M
May 08, 2019 10:30-3.963M1.215M9.934M
May 01, 2019 10:309.900M1.485M5.479M

Oil prices drop as EIA reports a weekly rise of 6.8 million barrels in U.S. crude supplies

he Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 6.8 million barrels for the week ended May 31. Analysts polled by S&P Global Platts expected a fall of 1.7 million barrels for crude stocks, on average. The American Petroleum Institute on Tuesday reported a climb of nearly 3.6 million barrels, according to sources. The EIA data also revealed that gasoline inventories climbed by 3.2 million barrels, while distillate stockpiles added 4.6 million barrels last week.




By metmike - June 6, 2019, 1:25 a.m.
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Weekly US ending stocks of crude oil.  The highest stocks in over 18 months!!



Weekly ending stocks for unleaded gasoline.  A bit less than a year ago.




Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).  A bit more than a year ago.

By metmike - June 6, 2019, 1:25 a.m.
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