EIA Oil
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Started by patrick - Sept. 2, 2020, 11:59 a.m.

Looking at today's report of production & consumption rolling off the table last week, it took me a while to remember - Oh, yeah - 2 storms in the Gulf. A few years ago that would have been Big News.
(Shakes cane in the general direction of my lawn)

http://ir.eia.gov/wpsr/overview.pdf

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Re: EIA Oil
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By cutworm - Sept. 2, 2020, 12:04 p.m.
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Thanks Patrick

(Shakes cane in the general direction of my lawn) What???

Re: Re: EIA Oil
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By metmike - Sept. 2, 2020, 5:19 p.m.
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Welcome back Patrick!

Like cutworm, I look forward to  learning something new based on this expression: (Shakes cane in the general direction of my lawn)

Re: Re: EIA Oil
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By metmike - Sept. 2, 2020, 5:21 p.m.
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Bullish And Bearish Factors In The Crude Oil Market- The Signs Still Point Higher


https://seekingalpha.com/article/4372148-bullish-and-bearish-factors-in-crude-oil-market-signs-still-point-higher


Summary:

Consolidation in crude oil continues.

The price continues to make marginal new highs.

The path of the US dollar supports a higher price.

US production declines and inventories suggest the price is heading higher.

UCO is a leveraged bullish tool, but it suffers from time decay during consolidation periods.

   

Re: Re: EIA Oil
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By patrick - Sept. 2, 2020, 6:01 p.m.
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It means I'm old.

By metmike - Sept. 2, 2020, 6:24 p.m.
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Thanks!

Join the club.

How old are you Patrick, if you don't mind me asking.

I'm 64.

By patrick - Sept. 3, 2020, 9:50 p.m.
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I'd tell you, but you'd think I was lying & you'd probably be right.

Looks like we might be heading into a bit of turbulence, so I'll watch closer.

By metmike - Sept. 4, 2020, 3:57 p.m.
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Your views are greatly appreciated here Patrick!

By metmike - Sept. 4, 2020, 4:07 p.m.
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https://www.investing.com/economic-calendar/eia-crude-oil-inventories-75    

         

U.S. Crude Oil Inventories

         Latest Release  Sep 02, 2020  Actual-9.362M   Forecast-1.887M   Previous-4.689M


                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

Release DateTimeActualForecastPrevious
Sep 10, 2020 11:00 -1.887M-9.362M
Sep 02, 2020 10:30-9.362M-1.887M-4.689M
Aug 26, 2020 10:30-4.689M-3.694M-1.632M
Aug 19, 2020 10:30-1.632M-2.670M-4.512M
Aug 12, 2020 10:30-4.512M-2.875M-7.373M
Aug 05, 2020 10:30-7.373M-3.001M-10.612M
Jul 29, 2020 10:30-10.612M0.357M4.892M
Jul 22, 2020 10:304.892M-2.088M-7.493M
Jul 15, 2020 10:30-7.493M-2.098M5.654M
Jul 08, 2020 10:305.654M-3.114M-7.195M
Jul 01, 2020 10:30-7.195M-0.710M1.442M
Jun 24, 2020 10:301.442M0.299M1.215M
Jun 17, 2020 10:301.215M-0.152M5.720M
Jun 10, 2020 10:305.720M-1.738M-2.077M
Jun 03, 2020 10:30-2.077M3.038M7.928M


By metmike - Sept. 4, 2020, 4:08 p.m.
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Weekly US ending stocks of crude oil. 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W

          


        Weekly ending stocks for unleaded gasoline. 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W

                                    



          Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).  

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W

By metmike - Sept. 4, 2020, 4:16 p.m.
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Crude price Year to Date:



Crude Price just this week:

By metmike - Sept. 4, 2020, 4:21 p.m.
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Crude 3 month chart


                   


Crude 1 year chart below


                   


Crude 5 year chart below

                   


Crude 10 year chart below

               

                   

                                    

By metmike - Sept. 4, 2020, 4:21 p.m.
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Unleaded Gasoline Price Charts:

3 month                 

                   


1 Year                

                   


5 year........are we headed back to the highs?

                   


10 Year                

                    

                                    


                                    

                                    


Re: Re: EIA Oil
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By metmike - Sept. 4, 2020, 4:23 p.m.
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USA National Gas Price Heat Map from Gas Buddy:

https://www.gasbuddy.com/GasPriceMap?z=4




                                    


By metmike - Sept. 4, 2020, 4:27 p.m.
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Current gas prices. They may seem low but we are being price gouged in some markets right now. This seems to happen more in September for some reason.


https://www.gasbuddy.com/GasPriceMap?z=4&lng=-96.591588&lat=38.822395




Why are west coast gasoline prices higher?

https://www.quora.com/Why-are-west-coast-gasoline-prices-higher


                                    


By metmike - Sept. 9, 2020, 2:41 a.m.
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Trump expected to extend Florida’s offshore drilling ban


https://www.oilandgas360.com/trump-expected-to-extend-floridas-offshore-drilling-ban/

-President Donald Trump is set to endorse an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy.

At issue is a moratorium on selling new leases in an area of the eastern Gulf of Mexico about 150 miles from the Florida coast — a ban that is set to expire in 2022, unless Congress renews it. Trump is expected to endorse the extension of that moratorium during a visit to Florida on Tuesday, according to two people familiar with the matter who asked not to be named before a formal announcement.

The White House declined to respond to a question about the moratorium but said in a statement that Trump is slated to discuss his administration’s conservation and environmental protection efforts in the region during an afternoon speech in Jupiter, Florida.

“These projects aim to reinvigorate the Everglades, enhance regional water storage capacity, and reduce harmful discharges from Lake Okeechobee, helping address the problems of blue-green algae and the red tide,” said White House spokesman Judd Deere.

By metmike - Sept. 9, 2020, 2:43 a.m.
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Iranian Fuel Seized by US to Reach Texas Within Days


https://www.oilandgas360.com/iranian-fuel-seized-by-us-to-reach-texas-within-days/


The U.S. announced in August that it had confiscated 1.1 million barrels of Iranian fuel bound for Venezuela. The sources said the four tankers originally carrying the fuel had transferred their cargoes onto the two vessels, which had special permits to enter into the U.S. waters to deliver the cargoes.

Re: Re: EIA Oil
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By metmike - Sept. 9, 2020, 11:22 p.m.
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Second wave of floating storage triggered by ailing oil market

https://www.oilandgas360.com/second-wave-of-floating-storage-triggered-by-ailing-oil-market/

Brent crude oil futures are languishing around $40 a barrel after posting their biggest weekly decline since June.

“The market is soft and bearish and floating storage is returning again,” a market source said.


https://fingfx.thomsonreuters.com/gfx/ce/dgkvllekovb/Pasted%20image%201599655350148.png

“It is increasingly clear that market fundamentals are not improving as quickly as expected, particularly on the demand side,” Morgan Stanley analyst Martijn Rats said in a note.


Global oil inventories remain sharply above average when looking at recent years. Although stocks have drawn at a pace of around 1.6 million barrels per day over the past 30 days, they are still some 600 million barrels above last year’s levels, according to Morgan Stanley.

Most of the draws were in crude oil inventories, but refined products stocks remained “stubbornly” high, Rats said.

Compounding the bleak picture are weak margins and signs of an erosion in demand from China, whose record crude purchases in the summer months as it emerged from economic lockdown to scoop up cheap oil, mitigated demand damage globally.

Saudi oil giant Aramco sharply cut its October official selling price (OSP) for its flagship Arab Light crude to Asia by $1.40 a barrel, hoping to salvage buying interest.

But one top Chinese buyer said the outlook appeared grim.

“There are fewer refinery runs in China, teapots (independent refiners) have used up a lot of their import quotas, inventories are still pretty high and crude at current levels are not great for margins.”

Sagging crude futures tracked sputtering physical crude prices worldwide, as price differentials for North Sea Brent stood at their lowest since June.

By metmike - Sept. 11, 2020, 12:18 a.m.
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https://www.investing.com/economic-calendar/eia-crude-oil-inventories-75


U.S. Crude Oil Inventories      Latest Release   Sep 10, 2020    Actual2.032M     Forecast-1.335M     Previous-9.362M                                                                                                                                     

Release DateTimeActualForecastPrevious
Sep 16, 2020 10:30  2.032M
Sep 10, 2020 11:002.032M-1.335M-9.362M
Sep 02, 2020 10:30-9.362M-1.887M-4.689M
Aug 26, 2020 10:30-4.689M-3.694M-1.632M
Aug 19, 2020 10:30-1.632M-2.670M-4.512M
Aug 12, 2020 10:30-4.512M-2.875M-7.373M
Aug 05, 2020 10:30-7.373M-3.001M-10.612M
Jul 29, 2020 10:30-10.612M0.357M4.892M
Jul 22, 2020 10:304.892M-2.088M-7.493M
Jul 15, 2020 10:30-7.493M-2.098M5.654M
Jul 08, 2020 10:305.654M-3.114M-7.195M
Jul 01, 2020 10:30-7.195M-0.710M1.442M

Show more

By metmike - Sept. 14, 2020, 1:33 p.m.
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