MARKET INTELLIGENCE & INDUSTRY NEWS

WTI crude oil futures pared back from this morning’s over 1% losses and into positive territory following the weekly inventory report that showed a surprise draw in crude oil stocks. The report also showed a build in gasoline stocks that was expected and a substantial build in distillate stocks despite refiners pulling back on output. HIGHLIGHTS: Refineries slowing their throughput. As the effects of Tropical Hermine pass, Crude imports saw a big jump last week, rising by nea

REPORT SUMMARY: WTI crude today is higher by 1.5% to $45.53. The average price of WTI crude this year is now seen at $41.92 per barrel vs. $41.16 previously. EIA expects 2016 U.S. oil production of 8.77M barrels per day, up 0.4% from the previous projection and 2017 estimated production of 8.51M barrels per day is up 2.5% from earlier. REPORT: Benchmark North Sea Brent crude oil spot prices averaged $46/barrel (b) in August, a $1/b increase from July. This was the fourth cons

WTI crude oil futures added onto earlier gains this morning after the EIA reported a massive draw in inventory, even more than the API’s shockingly high decrease yesterday afternoon. The substantial draw in crude oil inventory that U.S. industry data showed reflected the impact of an Atlantic storm that shut down rigs in the Gulf. Gasoline inventories also saw a larger-than-expected draw from crude oil while distillates saw a build that was bigger than forecasted as refiners

On August 26, 2016, the natural gas (UNG) (FCG) (BOIL) (GASL) (GASX) (UGAZ) (DGAZ) rig count was 81—two less compared to the previous week. The number of active natural gas rigs has fallen by 121 over the past year. A year ago, there were 202 natural gas rigs. Notably, the natural gas rig count for the week ending August 26, 2016, was 94.9% lower than its peak in 2008. The rig count reached a historic high of 1,606 in 2008. Crude oil rigs and natural gas production On August

WTI crude oil futures slipped further into the red following the EIA’s weekly inventory report which revealed a substantially larger than expected build in crude and distillate stocks, in addition to a lighter draw from gasoline stocks than was forecast as refiners surprisingly hiked output. Supporting the sell off: Analysts were looking for a 1.2 million barrel drop in gasoline stocks vs the news they only fell by 691,000 barrels. There were also expectations for a 157,000-b

WTI crude oil futures fell further into the red following the EIA’s weekly inventory report which confirmed last night’s API reading of a substantial build in crude stocks despite expectations for a light draw. Gasoline and distillate stocks were marginally higher on the week, contradicting expectations as refiners pulled back on output, also surprising analysts. See last weeks report ( here). SUMMARY: U.S. crude oil refinery inputs averaged 16.7 million barrels per day duri

WTI crude oil futures pared back on earlier losses but stayed in negative territory following the EIA’s inventory report which revealed a surprise draw crude stocks. The report also reported a larger-than-expected draw in gasoline inventories and an unexpected build in distillate stocks as refineries hiked output, keeping gains in check. See last weeks report ( here). SUMMARY: U.S. crude oil refinery inputs averaged about 16.9 million barrels per day during the week ending A

WTI crude oil futures saw some immediate volatility following the EIA’s inventory, initially seeing some gains, but have started to trend lower and into negative territory. The initial reaction seemed positive as the government reported a smaller build for crude stocks than the API had last night, despite expectations for light builds. The larger than expected declines in gasoline and distillate stocks also supported crude prices, but the swift decline in refinery utilization

WTI crude oil futures initially gave back the pre-report gains, but quickly added them back following the EIA’s inventory report. The government reported that crude stocks had increased despite expectations and the API’s reports last night that crude stocks had been drawn down. The substantial draw down from gasoline inventories was the lone bright spot of the report, with distillates showing a surprise build as refiners hiked output. See last weeks report ( here). SUMMARY: U

WTI crude oil futures erased this morning’s gains following the weekly EIA Inventory Data which showed U.S. crude and gasoline stocks rose unexpectedly last week, while distillate inventories fell despite expectations of a build. See last weeks report ( here). SUMMARY: U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending July 22, 2016, 277,000 barrels per day less than the previous week’s average. Refineries operated at 92.4% of their op

WTI crude oil tacked onto earlier losses following this week’s EIA inventory report despite the report’s contradicting numbers to last night’s reported build in crude stocks from the API, as the government revealed a draw that was slightly lower than expectations. The highlight of the report was a much larger than expected build in distillate inventories. Additionally, gasoline stocks saw a surprise build despite refiners marginally slowing up production. SUMMARY: U.S. crude