Crude oil week of 1-13-21
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Started by metmike - Jan. 13, 2021, 2:56 p.m.

U.S. oil price holds slight gain after data confirms drop in crude inventories

The Energy Information Administration said U.S. crude inventories fell by 3.2 million barrels last week, slightly less than the 3.8 million barrel drop expected by analysts surveyed by S&P Global Platts. It was also smaller than the 5.8 million fall said to be reported by the American Petroleum Institute late Tuesday.


The overall trend for supply, and oil production, “still is on a downward trajectory,” said Phil Flynn, analyst at Price Futures Group, in a note. “The oil market trend towards our near-term target of $55 is intact and while we may see a pullback from that area, this summer, prices will be much higher.”


Gasoline inventories increased by 4.4 million barrels last week, according to EIA, while distillate stocks rose 4.8 million barrels. The S&P Global Platts analysts had penciled in a 3.2 million barrel rise in gasoline stocks and a 2.8 million barrel rise in distillate inventories.


WTI was struggling to extend its winning streak to seven sessions, with crude prices underpinned globally by Saudi Arabia’s decision last week to cut production by 1 million barrels a day in February and March. Analysts said crude could be vulnerable to a near-term pullback.


“Negative news flow on the global macro front or problems with the rollout of COVID vaccines can trigger a sharp fall in oil prices,” said Stephen Innes, chief global market strategist at Axi, in a note.


“Still, Saudi’s willingness to support the oil price does limit downside risk this year, but one must believe that Brent above $57 a barrel is susceptible to bad news,” he said.

By metmike - Jan. 13, 2021, 3:01 p.m.
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   U.S. Crude Oil Inventories  

      Latest Release   Jan 13, 2021   Actual-3.247M   Forecast-2.266M    Previous-8.010M


Release DateTimeActualForecastPrevious
Jan 13, 2021 10:30-3.247M-2.266M-8.010M
Jan 06, 2021 10:30-8.010M-2.133M-6.065M
Dec 30, 2020 10:30-6.065M-2.583M-0.562M
Dec 23, 2020 10:30-0.562M-3.186M-3.135M
Dec 16, 2020 10:30-3.135M-1.937M15.189M
Dec 09, 2020 10:3015.189M-1.424M-0.679M

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By metmike - Jan. 13, 2021, 3:01 p.m.
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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).


By metmike - Jan. 13, 2021, 3:02 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 - Jan. 13, 2021, 3:03 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                



By metmike - Jan. 13, 2021, 3:03 p.m.
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Rohöl saisonal

By metmike - Jan. 13, 2021, 3:05 p.m.
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Current gas prices.

Why are west coast gasoline prices higher?