oil
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Started by bear - July 31, 2019, 12:37 a.m.

1 yr chart,... nice wedge, but which way do we go, which way do we go?....

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Re: oil
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By metmike - July 31, 2019, 12:58 a.m.
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Crude 3 months below


Crude 1 year below


Crude 10 years below

Re: Re: oil
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By metmike - July 31, 2019, 12:59 a.m.
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Unleaded gas price:



Re: Re: oil
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By metmike - July 31, 2019, 1:01 a.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

Re: Re: oil
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By metmike - July 31, 2019, 1:02 a.m.
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By metmike - July 31, 2019, 3:28 p.m.
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U.S. Crude Oil Inventories

https://www.investing.com/economic-calendar/eia-crude-oil-inventories-75

                                                                      

Latest Release  Jul 31, 2019   Actual-8.496M    Forecast-2.588M     Previous-10.835M

                                                                                                                                                                                                                                                                                                                                     

Release DateTimeActualForecastPrevious
Jul 31, 2019 10:30-8.496M-2.588M-10.835M
Jul 24, 2019 10:30-10.835M-4.011M-3.116M
Jul 17, 2019 10:30-3.116M-2.694M-9.499M
Jul 10, 2019 10:30-9.499M-3.081M-1.085M
Jul 03, 2019 10:30-1.085M-2.964M-12.788M
Jun 26, 2019 10:30-12.788M-2.540M-3.106M


By metmike - July 31, 2019, 3:30 p.m.
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U.S. crude stocks slump 8.5 million bbls in seventh straight weekly fall: EIA


https://www.reuters.com/article/us-usa-oil-eia/u-s-crude-stocks-drop-by-8-5-million-bbls-eia-idUSKCN1UQ1YH

(Reuters) - U.S. crude oil stockpiles fell for the seventh straight week, falling to their lowest levels since November even as production rebounded and net imports increased, the Energy Information Administration said on Wednesday. 

Crude inventories fell 8.5 million barrels in the week ended July 26, far exceeding analysts’ expectations for a decrease of 2.6 million barrels. At 436.5 million 


By metmike - Aug. 1, 2019, 3:41 p.m.
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https://www.cnbc.com/2019/08/01/oil-plunges-down-more-than-6percent-after-trump-adds-tariffs-on-china.html


Key Points

  • Oil dropped on Thursday after President Donald Trump announced additional tariffs of 10% on the remaining $300 billion in Chinese goods would be added in September. 
  • WTI crude fell 7.9% to $53.95. 
  •  “The oil market has been the highest hit asset around from the trade war and this only exacerbates the situation,” said John Kilduff Founding Partner of Again Capital.

  • Futures for WTI crude dropped 7.9% to $53.95. WTI broke a 5-day winning streak with its worst daily performance in more than 4 years.

     “The oil market has been the highest hit asset around from the trade war and this only exacerbates the situation,” said John Kilduff Founding Partner of Again Capital.
     “It was a rough day for oil even before the tweet came out,” said Kilduff. “The oil markets didn’t get help from the stance the Federal Reserve took yesterday and then got hurt by the president’s announcement.”
By metmike - Aug. 1, 2019, 3:43 p.m.
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OPEC Oil Production Drops To Eight-Year Low


https://oilprice.com/Energy/Crude-Oil/OPEC-Oil-Production-Drops-To-Eight-Year-Low.html


Deeper production cuts at leading producer Saudi Arabia, lower output at sanctions-hit Iran, and outages in Libya and Venezuela sent OPEC’s crude oil production in July falling to its lowest level since 2011, the monthly Reuters survey found.