Wednesday, September 22, 2021

Weekly EIA Petroleum Report -- September 22, 2021

Holy mackerel: ISO NE -- $75 this morning. Link here. This is autumn: heating not yet needed; a/c not needed.

  • natural gas: 63%
  • nuclear: 24%
  • nothing else matters, does it?

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.  

Dow: up 200 at the opening.

  • Energy SPDR: up almost 3%
  • DVN: up over 5% today; just now Jim Cramer says DVN best in the oil patch

FedEx: leading indicator

  • shortage of employees will affect companies well into 2022

Netflix: huge acquisition, link here:

  • buying entire library of Roald Dahl
  • this is the firm's (Netflix) biggest acquisition to date
  • already had a relationship; now cements it
  • building its content arsenal in streaming wars against rivals, including Disney+, Amazon Prime, and HBO Max;
  • much, much more at the link

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.  

Legacy Fund: still waiting for September deposits data. Link here.

EIA weekly petroleum report: Link here.

  • US crude oil in storage decreased by a moderate 3.5 million bbls;
  • US crude oil in storage now stands at 414.0 million bbls; 85 below the five-year average
  • refiners are operating at 87.5% of their operable capacity
  • US crude oil imports averaged 6.5 million bopd, increased by 0.7 million bopd; over the past four weeks, imports have averaged about 6.1 million bbls per day; almost 20% more than the same four-week period last year -- and a lot of that is coming from Russia
  • distillate fuel inventories decreased by 2.6 million bbls last week; inventories now stand at 14% below the five-year average
  • total commercial petroleum inventories decreased by 2.6 million bbls last week
  • but look at this: total products supplied over the last four-week period averaged 21.0 million bbls per day, up by almost 20% from same period last year, the year of the plague year, but we need comparisons to 2019, pre-pandemic; comparisons with last year are almost meaningless;
  • jet fuel supplied was up a whopping 70.4% compared with same period last year;

 Distillate fuel:

Distillate Fuel Inventories




Week

Date of Report

Change in Millions

Relative to 5-Yr Avg

Week 42

June 10, 2021

4.40

-5.0%

Week 43

June 16, 2021

-1.00

-6.0%

Week 44

June 23, 2021

1.80

-4.0%

Week 45 

June 30, 2021

0.90

-5.0%

Week 46

July 8, 2021

1.60

-6.0%

Week 47

July 14, 2021

3.70

-4.0%

Week 48

July 21, 2021

-1.30

-4.0%

Week 49

July 28, 2021

-3.10

-7.0%

Week 50

August 4, 2021

0.80

-6.0%

Week 51

August 11, 2021

1.80

-6.0%

Week 52

August 18, 2021

-2.70

-8.0%

Week 53

August 25, 2021

0.60

-8.0%

Week 54

September 1, 2021

-1.70

-9.0%

Week 55

September 9, 2021

-3.10

-12.0%

Week 56

September 15, 2021

-1.70

-13.0%

Week 57

September 22, 2021

-2.60

-14.0%


Crude oil imports:

Crude Oil Imports





Week (week-over-week)

Date of Report

Raw Data, millions of bbls

Change (millions of bbls)

Four-week period comparison

Week 17

July 8, 2020

7.4

1.400

-8.500%

Week 18

July 15, 2020

7.5

-1.800

-10.200%

Week 19

July 22, 2020

5.9

0.373

-13.500%

Week 20

July 29, 2020

5.1

-0.800

-13.600%

Week 21

August 5, 2020

6.0

0.900

-18.100%

Week 67

June 23, 2021

6.9

0.197

-1.00%

Week 68

June 30, 2021

6.4

-0.500

2.80%

Week 69

July 8, 2021

5.9

-0.500

-2.20%

Week 70

July 14, 2021

6.2

0.347

-0.10%

Week 71

July 21, 2021

7.1

0.900

2.90%

Week 72

July 28, 2021

6.5

-0.600

6.90%

Week 73

August 4, 2021

6.4

-0.075

15.80%

Week 74

August 11, 2021

6.5

-0.036

16.30%

Week 75

August 18, 2021

6.4

-0.064

14.10%

Week 76

August 25, 2021

6.2

-0.193

8.80%

Week 77

September 1, 2021

6.3

-0.183

13.90%

Week 78

September 8, 2021

5.8

-0.500

12.20%

Week 79

September 15, 2021

5.8

-0.048

13.30%

Week 80

September 22, 2021

6.5

0.700

18.90%


Jet fuel delivered:

Jet Fuel Delivered, Change, Four-Week/Four-Week



Week

Date of Report

Change

Week 54

June 3, 2021

137.80%

Week 55

June 10, 2021

95.10%

Week 56

June 16, 2021

86.80%

Week 56

June 23, 2021

97.50%

Week 57

June 30, 2021

83.50%

Week 58

July 8, 2021

89.10%

Week 59

July 14, 2021

65.90%

Week 60

July 21, 2021

49.50%

Week 61

July 28, 2021

39.40%

Week 62

August 4, 2021

42.90%

Week 63

August 11, 2021

45.80%

Week 64

August 18, 2021

56.10%

Week 65

August 25, 2021

45.40%

Week 66

September 1, 2021

51.70%

Week 67

September 9, 2021

65.30%

Week 68

September 15, 2021

59.10%

Week 69

September 22, 2021

70.40%

 

2 comments:

  1. US crude oil in storage at a 35 month low; the total of all U.S. Stocks of Crude Oil and Petroleum Products, including those in the SPR, is at a 6 1/2 year low...it's not making headlines because everyone looks at commercial stocks & no one takes the depletion of the SPR into account..

    ReplyDelete
    Replies
    1. The tea leaves suggest a real shortage of oil --- but we will see what shale can do.

      Delete

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