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The CL Crude-analysis Thread
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The CL Crude-analysis Thread

  #2231 (permalink)
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Whats the significance of these new releases? If I remember, the inventories is the big one and creates volatility but how do the others relate? The weekly crude stock is released the day before but how does it differ to the inventories data? And whats 'crushing oil inventories' doing there? What weight does that data carry?

API Weekly Crude Oil Stock

Crude Oil Inventories
Cushing Crude Oil Inventories

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  #2232 (permalink)
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Grantx View Post
Whats the significance of these new releases? If I remember, the inventories is the big one and creates volatility but how do the others relate? The weekly crude stock is released the day before but how does it differ to the inventories data? And whats 'crushing oil inventories' doing there? What weight does that data carry?

API Weekly Crude Oil Stock

Crude Oil Inventories
Cushing Crude Oil Inventories

The American Petroleum Institute ("API") [ https://www.api.org/ ] is a US Trade Organization representing the oil industry. They release their estimate of US oil storage changes on Tuesday evening. I do not know how they perform their calculations, but participation is voluntary. The US Governments Energy Information Administration ("EIA") [ https://www.eia.gov/ ] issues an official oil production and storage report on Wednesday morning. Participation/Reporting is compulsory and as such is viewed to be more accurate of the two. While you would expect the two reports to be very similar, they can and do vary significantly!

For reporting purposes the US is divided into 5 regions or PADD's. PADD 1 is the East Coast, PADD 2 is the Midwest (which includes Cushing), PADD 3 is the Gulf Coast and by far the largest, PADD 4 is tiny and is the Rockies and PADD 5 is the West Coast. Since PADD 4 is so small, and since there is no way to get oil across the Rockies from the West Coast, people focus on the storage numbers for PADDS 1-3.

Does that answer your question?

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  #2233 (permalink)
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SMCJB View Post
The American Petroleum Institute ("API") [ https://www.api.org/ ] is a US Trade Organization representing the oil industry. They release their estimate of US oil storage changes on Tuesday evening. I do not know how they perform their calculations, but participation is voluntary. The US Governments Energy Information Administration ("EIA") [ https://www.eia.gov/ ] issues an official oil production and storage report on Wednesday morning. Participation/Reporting is compulsory and as such is viewed to be more accurate of the two. While you would expect the two reports to be very similar, they can and do vary significantly!

For reporting purposes the US is divided into 5 regions or PADD's. PADD 1 is the East Coast, PADD 2 is the Midwest (which includes Cushing), PADD 3 is the Gulf Coast and by far the largest, PADD 4 is tiny and is the Rockies and PADD 5 is the West Coast. Since PADD 4 is so small, and since there is no way to get oil across the Rockies from the West Coast, people focus on the storage numbers for PADDS 1-3.

Does that answer your question?

Does indeed! Thank you.

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  #2234 (permalink)
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My pleasure

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  #2235 (permalink)
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51- 54 range support/resistance play by those numbers

Oil prices continue to rise due to global events, Is this momentary or this is the direction for the future? - DayTrade-Profit
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  #2236 (permalink)
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Crude Margins coming down
  • March down $375 to $3900
  • Apr-Aug down various to $3850
  • Sep19-Aug20 unch/down little to $3500/3750
  • Sep20-Jun21 down $200-400 to $2700-3200
  • Oct21 on back down $500+ to approx $2500
So biggest drops in the way way back!

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  #2237 (permalink)
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SMCJB View Post
Crude Margins coming down
  • March down $375 to $3900
  • Apr-Aug down various to $3850
  • Sep19-Aug20 unch/down little to $3500/3750
  • Sep20-Jun21 down $200-400 to $2700-3200
  • Oct21 on back down $500+ to approx $2500
So biggest drops in the way way back!

I take it that's because the volatilty has somewhat reduced from Oct-Dec '18 levels?

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  #2238 (permalink)
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What happens to back month spreads when front month expires?

Anything?
Am i right in assuming Dec 19 or June 20 prices will not change when March expires, rolls over into April or if not, what will the effect be?

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