Mon, Jun 21, 2021 @ 21:40 GMT

Oil N' Gold

US Oil Inventory Increased Across the Board as Fear on Global Slowdown Intensified

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +6.7 mmb to 1267.11 mmb in the week ended January 18. Crude oil inventory soared +7.97 mmb to 445.03 mmb (consensus: -0.04 mmb). Inventories increased in ALL 5...

US Crude Oil Inventory Fell More than Expected, While Production Climbed Higher

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +5 mmb to 1260.4 mmb in the week ended January 11. Crude oil inventory fell -2.68 mmb to 437.06 mmb (consensus: -1.32 mmb). Inventories decreased in 3 out of...

US Crude Oil Inventory Fell Less Than Expected, While Fuel Stocks Increased Markedly

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +13.28 mmb to 1255.44 mmb in the week ended January 4. Crude oil inventory fell -1.68 mmb to 439.74 mmb (consensus: -2.8 mmb). Inventories decreased in 3 out of...

US Crude Oil Inventory Gained Marginally, In Contrast with Hopes of Decline

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks gained +14.62 mmb to 1242.16 mmb in the week ended December 28. Crude oil inventory rose +0.01 mmb to 441.42 mmb (consensus: -3.09 mmb). Inventories increased in 3 out of 5...

Less- than- Expected Decline in US Crude Oil Inventory Failed to Rescue Price

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks dropped -2.05 mmb to 1227.54 mmb in the week ended December 21. Crude oil inventory slipped -0.05 mmb (consensus: -2.87 mmb) to 441.41 mmb. Inventories increased in ALL 5 PADDs. Meanwhile,...

CFTC Commitments of Traders- Bets on Crude Oil Fell Amid Price Slump

According to the CFTC Commitments of Traders report for the week ended December 18,  NET LENGTH for crude oil futures climbed modestly higher as the decline in speculative short positions outweighed that in long positions. NET LENGTH added +102 contracts to 309 608 contracts for the week. Both crude...

Oil Fundamentals Remain Fragile Despite OPEC+ Cut. Saudi’s Over-Optimistic Budget Reinforces Oversupply Worries

The deal made by OPEC+ to cut output had only limited boost the oil prices. The renewed selloff in crude oil prices, indicating another leg of downturn, is driven by concerns over global growth slowdown, decline in stock markets and Saudi Arabia's budget plan. US' weekly report showed less-than-expected...

CFTC Commitments of Traders – NET LENGTH for Crude Oil Futures Dropped to 2-Year Low

According to the CFTC Commitments of Traders report for the week ended December 11,  NET LENGTH for crude oil futures continued to fall. Speculative long positions of crude oil futures slipped -708 contracts, while shorts jumped +19 932 contracts, resulting in a fall in NET LENGTH, by -20 640...

CFTC Commitments of Traders – Bets Trimmed on Oil and Petroleum, Traders Turned Cautious ahead of OPEC

According to the CFTC Commitments of Traders report for the week ended November 27  NET LENGTH for crude oil and gasoline futures continued to fall. Speculative long positions of crude oil futures declined -17 170 contracts, while shorts gained +1 896 contracts, resulting in a fall in NET LENGTH,...

OPEC+: To Cut or Not to Cut?

Crude oil prices have steadied after the sharp correction over the past 7 weeks. Supporting the recovery are hopes of OPEC or OPEC+ production cut next month. OPEC and non-OPEC producer would meet in Vienna on December 6, discussing ways to defend oil prices. While the market generally expects...

CFTC Commitments of Traders – Bets on Commodities Shrank. Oil’s Outlook Dependent on OPEC

According to the CFTC Commitments of Traders report for the week ended November 20  NET LENGTH for crude oil, heating oil and gasoline futures continued to fall. Speculative long positions of crude oil futures declined -32 596 contracts, while shorts slipped -18 585 contracts, resulting in a fall in...

Oil Update – Oversupply Likely Continues to Weigh on Oil Prices Next Year

Crude oil prices have declined for 6 consecutive weeks. A confluence of factor has triggered the sharp selloff: concerns that the slowdown of Chinese economic growth would accelerate, reports that Russia would not join OPEC to cut output further, Trump called for Saudi Arabia to raise output, news of...

CFTC Commitments of Traders – Bears Raised Bets on Oil

According to the CFTC Commitments of Traders report for the week ended November 13,  NET LENGTH for crude oil, heating oil and gasoline futures all declined sharply. Selloff in oil prices exacerbated during the reporting week, with the front-month WTI crude oil contract slumping -10.48% while the Brent contract...

Surprising Increase in Crude Inventory Aggravates Weakness in Oil Prices

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks dropped -1.41 mmb to 1252.02 mmb in the week ended November 9. Crude oil inventory jumped +10.27 mmb (consensus: +3.18 mmb) to 442 mmb. Inventories increased in 4 out of of...

Commitments of Traders – Natural Gas in NET LENGTH for the First Time in Over a Year

According to the CFTC Commitments of Traders report for the week ended November 6,  NET LENGTH for crude oil, heating oil and gasoline futures all continued to drop. Oil prices slumped during the reporting week, with the front-month WTI crude oil contract pluning -6% while the Brent contract was...

Rising Inventory Perpetuates Crude Oil Selloff in the Fifth Week

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks  gained +4.83 mmb to 1253.43 mmb in the week ended November 2. Crude oil inventory increased +5.78 mmb (consensus: +2.43 mmb) to 426 mmb. Inventories increased in 3 out of of...

CFTC Commitments of Traders – Longs on Oil Continued to Shrink

According to the CFTC Commitments of Traders report for the week ended October 30,  NET LENGTH for crude oil, heating oil and gasoline futures all continued to drop. Oil prices dived during the reporting week, with the front-month WTI crude oil contract dipping -0.38% while the Brent contract was...

US Crude Oil Inventory Increased for Another Week as Output Soared

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks declined -6.4 mmb to 1248.6 mmb in the week ended October 26. Crude oil inventory increased +3.22 mmb (consensus: +4.11 mmb) to 426 mmb. Inventories increased in 3 out of of...

CFTC Commitments of Traders – Traders Trimmed Longs as Oil Price Slump Accelerated

According to the CFTC Commitments of Traders report for the week ended October 23,  NET LENGTH for crude oil, heating oil and gasoline futures all continued to drop. Oil prices dived during the reporting week, with the front-month WTI crude oil contract sinking -7.63% while the Brent contract was...

US Crude Oil Inventory Jumped Significantly, Fuel Stockpiles Declined

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products stocks declined -7.99 mmb to 1254.99 mmb in the week ended October 19. Crude oil inventory rallied +6.35 mmb (consensus: +3.69 mmb) to 422.79 mmb. Inventories increased in 4 out of of...