Wednesday, August 21, 2019

EIA's Weekly Petroleum Report -- August 21, 2019

While we're waiting, existing home sales (US), mortgage rates are really, really low and might go lower:
  • prior: 5.270 million
  • prior revised: 5.290 million
  • consensus: 5.385 million
  • actual: 5.420 million
  • m/m change: up 2.5%
  • y/y change: up 0.6%
I still don't see the data that the average American on the street sees "a recession just around the corner."

 
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The Weekly Petroleum Report

WTI: up about 65 cents; trading at $56.74, about at the sweet sport for all involved.

EIA's weekly petroleum report: link here.
  • weekly US crude oil inventories: fell by 2.7 million bbls
  • weekly US crude oil inventory: 437.8 million bbls, about 2% above the five-year average, and that five-year average keeps building
  • refiners operating capacity: 95.9% of their operable capacity; nearing high end of what is generally reporte
  • imports continue to fall; down by almost a half-million bopd from the previous week
  • imports are almost 11% less than the same four-week period last year (and those numbers keep falling)
  • total product supplied: now solidly above 20 million bpd, up 3% from same period last year
  • jet fuel product supplied was up 4% compared with same four-week period last year
  • gasoline up 1.5% from same period last year
  • we'll see the gasoline demand numbers and graphic later today
Re-balancing:
Week
Week Ending
Change
Million Bbls Storage
Week 0
November 21, 2018
4.9
446.9
Week 1
November 28, 2018
3.6
450.5
Week 2
December 6, 2018
-7.3
443.2
Week 3
December 12, 2018
-1.2
442.0
Week 4
December 19, 2018
-0.5
441.5
Week 5
December 28, 2018
0.0
441.4
Week 6
January 4, 2019
0.0
441.4
Week 7
January 9, 2019
-1.7
439.7
Week 8
January 16, 2019
-2.7
437.1
Week 9
January 24, 2019
8.0
445.0
Week 10
January 31, 2019
0.9
445.9
Week 11
February 6, 2019
1.3
447.2
Week 12
February 13, 2019
3.6
450.8
Week 13
February 21, 2019
3.7
454.5
Week 14
February 27, 2019
-8.6
445.9
Week 15
March 6, 2019
7.1
452.9
Week 16
March 13, 2019
-3.9
449.1
Week 17
March 20, 2019
-9.6
439.5
Week 18
March 27, 2019
2.8
442.3
Week 19
April 3, 2019
7.2
449.5
Week 20
April 10, 2019
7.0
456.5
Week 21
April 17, 2019
-1.4
455.2
Week 22
April 24, 2019
5.5
460.1
Week 23
May 1, 2019
9.9
470.6
Week 24
May 8, 2019
-4.0
466.6
Week 25
May 15, 2019
5.4
472.0
Week 26
May 22, 2019
4.7
476.8
Week 27
May 30, 2019
-0.3
476.5
Week 28
June 5, 2019
6.8
483.3
Week 29
June 12, 2019
2.2
485.5
Week 30
June 19, 2019
-3.1
482.4
Week 31
June 26, 2019
-12.8
469.6
Week 32
July 3, 2019
-1.1
468.5
Week 33
July 10, 2019
-9.5
459.0
Week 34
July 17, 2019
-3.1
455.9
Week 35
July 24, 2019
-10.8
445.1
Week 36
July 31, 2019
-8.5
436.5
Week 37
August 7, 2019
2.4
438.9
Week 38
August 14, 2019
1.6
440.5
Week 29
August 21, 2019
-2.7
437.8

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