XavierOil+

Crude Oil Hobbyist - Spent lots of time watching #WTI

[XavierOil+ @xavierlokee]

#oott

[Ole S Hansen @Ole_S_Hansen]

EIA report: #Crudeoil stocks rose by just 1.2m bbl after exports surged to a record 5.6m b/d. Cushing rose for a ninth week while production held steady at 12.3m b/d. Implied #gasoline demand (4-wk avg.) edged up to 8.7m while refinery utilization rose by more than exp. #oott

[Ole S Hansen @Ole_S_Hansen]

EIA report in charts. A strong report that saw #crudeoil and fuel stocks all rise by more than expected, perhaps from a #CL_f perspective mitigated by a slowing buildup at Cushing. Production hit a post-pandemic peak at 12.3m b/d

[Steven Goldstein @AlphaMind101]

The greatest skill a trader can possess is the soft-skill of letting-go.

This makes all the hard skills of trading possible.

Letting Go of your:
- fears & anxieties
- ego and it’s need to be right
- self-judgements
- need to know
- past failures
- concerns of what others think

[Ole S Hansen @Ole_S_Hansen]

The largest #crudeoil stock build since March 2021 had a limited price impact on Wednesday with nearly half the 10m bbl increase coming from a 4.75m drawdown in SPR. Refinery demand slowed while #gasoline and distillates cont. their seasonal build as demand slowed #OOTT

[Ole S Hansen @Ole_S_Hansen]

COT on #forex in wk to Nov 15, when the #DXY slumped around 3%, saw specs cut their gross $USD long to $1.3 bn, a 17-mth low. Since late August the #dollar long has faded, diven by 160k lots (€20 bn) of #EUR buying followed up recently by a 35% reduction in the #JPY short

[Ole S Hansen @Ole_S_Hansen]

EIA report in charts. Overall a relative small market impact with the drop in #crudeoil stocks not enough to reverse today's overall negative market sentiment #oott

[Ole S Hansen @Ole_S_Hansen]

EIA report in charts: #Crudeoil stocks reached a 16-mth high while #gasoline stocks dropped to a fresh 8-year low #OOTT

[Ole S Hansen @Ole_S_Hansen]

OPEC's #crudeoil output rose 30k b/d last month to 29.98m b/d (Source: @business). Ahead of planned cuts this month the UAE (+70kbd), Iraq (+50) and Nigeria (+50) increased production while Angola (-60), Congo (-40) and Libya (-30) all struggled #OOTT

[Ole S Hansen @Ole_S_Hansen]

Specs cut bullish IMM #dollar bets by 20% to $12bn, a 7-mth low, in the week to Oct 25 on raised FOMC rollover speculation. The #EUR long jumped 56% to 75k (€9.4bn), a 15-mth high, from a €6 bn short 8 weeks ago. Partly offset by selling of #CHF #JPY and #AUD. #forex

[Ole S Hansen @Ole_S_Hansen]

US #crudeoil stocks jumped 9.9m bbl last week as export dropped 1.7m b/d. Production adj lower by 0.1m b/d and SPR added 7.7m bbl. Distillate stocks dropped 4.8m bbl to 106m, the seasonal lowest levels in many years. #Gasoline stocks rose 2m bbl. #OOTT

[Ole S Hansen @Ole_S_Hansen]

EIA's weekly report in charts. Note the big drop in #gasoline to Nov 2014 low and continued recovery in demand (4 wk avg.). #Crudeoil production remains stuck in neutral #OOTT

[Ole S Hansen @Ole_S_Hansen]

OPEC new baseline (quota) versus current #crudeoil production estimates from @business #OOTT #OPEC

[Ole S Hansen @Ole_S_Hansen]

Yesterday's EIA report showed a 0.2mb drop in #crudeoil stocks with exports surging 1.1m b/d and SPR adding 4.6mb while production dropped to 12mbd on maintenance. #Gasoline stocks down 2.4mb, a ten-month low with implied demand ticking higher. #Diesel stocks drop 2.9mb #OOTT

[Ole S Hansen @Ole_S_Hansen]

EIA stock report recap: #crudeoil stocks jumped as net imports rose 1.3m b/d and SPR added 7.5m bbl. Implied #gasoline demand (4wk avg.) at 8.78m b/d dropped below the 2020 seasonal low, some 0.68m b/d below the 5-yr avg. #OOTT

[Ole S Hansen @Ole_S_Hansen]

EIA report in charts: #crudeoil #gasoline #diesel #oott

[Ole S Hansen @Ole_S_Hansen]

1/2 - COT on #forex in wk to Aug 16: A mixed week left the speculative $USD long unch versus ten IMM #futures and the #DXY. The #EUR net short reached a fresh 2-1/2-year high while #JPY selling resumed. Against these, the #CHF was cut in half while the #CAD long hit a 14-mth high

[Ole S Hansen @Ole_S_Hansen]

EIA report in charts. An overall bullish report with record #crudeoil exports, a temp drop in production and another rise in implied #gasoline demand (4 wk avg.) - #OOTT

[Eric Nuttall @ericnuttall]

Oil down hard today on weak "implied" gasoline demand (DOE data). Wasn't it just last week that all the refiners said they were seeing "no indication of demand destruction"??? How can implied gasoline demand be lower than in 2020 during COVID? Possible bad data???

[XavierOil+ @xavierlokee]

#OOTT #WTI #OIL

The backwardation spreads have narrowed. Very tight Oil market becoming not so tight anymore, recall we had $3~ & then $2~ & now <$1-$1+ across the months. Definitely not a cheer for bulls.