December 21, 2011
Major demand or maybe just a lack of inventory was seen today in the Department of Energy’s Oil Inventory report. Major draw downs in inventory stocks were seen across the board.
Crude showed a drop of 10.57 Million barrels vs. expectations of a dip of only 2.125 Million barrels
Gasoline dropped by 412,000 barrels vs. the expectation of a build of 1.5 Million barrels
Distillates dropped by 2.353 Million barrels vs. expectations of build of 83,000 barrels Read more
October 5, 2011
Crude oil prices, along with other commodities have been falling rapid over the past few weeks. Part of the reason is due to the rising U.S. Dollar and the rest due to the concern over demand. Each week the reports from both the API and DOE are released which shows the level of inventory growth or drawdown. Tuesday nights, after the close, the API reports in. Then, on Wednesday at Read more
June 10, 2011
Gasoline prices have been rising. In fact, they seem to rise no matter what the actual price of oil is. Apparently, there is only one directional adjustment that can be made at the pump – and that is higher. Even with the recent drop of 12% for WTI crude , little change was seen in the average gas price. Those cost increases are starting to show through as retail sales are slowing and consumer confidence is dropping.
While the rage continues in the MENA nations, the Read more
March 1, 2010
Oil spiked lower as the news came that three was another significant aftershock in Chile. This one measured 5.1 and news of the actual damage is still coming in.
The timing of the shift in sentiment in the future’s pits changed exactly at the same time…
Coincidence? Read more
February 25, 2010
There were mixed numbers from both the API and the DOE. On Tuesday night, the API came out with numbers that showed a large draw-down in Oil inventories but a significant gain in gasoline inventories. Yet, as we have seen before the next day, the report by the DOE showed quite a different picture.
From our perspective, we view the API number as a reflection of the consumption in the U.S. and the DOE a worldwide result. Therefore, we could consider that the Read more