Wednesday, January 25, 2012

DOE Crude Oil, Distillates & Gasoline Inventories - Conflicts across the complex follow API numbers last night

Today January 25th at 10:30 EST (15:30 GMT) the Inventory figures from the U.S. Department of Energy were released. These follow from last night API figures were a big build on Crude came along with draws on Distillates and Gasoline. While there was little reaction to API last night, as it comes out quite late in the day, today's DOE figures did have a nice reaction. Crude Oil is the best to follow but Heating Oil and RBob Gasoline also will move on these figures. Heating Oil is best matched to Distillates and Gasoline to Gasoline of course. However the complex will move in sympathy to deviations accross the complex. Here the figures:

DOE U.S. Crude Oil Inventories
Estimates- Median: +1450k Average: +654k Range: -2100k to +3700k
Actual: +3558k Prior: -3438k No Revision

DOE U.S. Distillate Inventory
Estimates- Median: -125k Average: -142k Range: -2500k to +2000k
Actual: -2456k Prior: +438k No Revision

DOE U.S. Gasoline Inventories
Estimates- Median: +2000k Average: +1583k Range: -1000k to +2500k
Actual: -390k Prior: +3717k No Revision

DOE U.S. Refinery Utilization
Estimates- Median: -0.6% Average: -0.4% Range: -1.25% to +1.00%
Actual: -1.50% Prior: -1.90% No Revision

DOE U.S. Cushing OK Crude Inventory
Actual: +374k Prior: -832k No Revision

DOE Crude Oil Implied Demand
Actual: 14067 Prior: 14482 No Revision

DOE Distillate Implied Demand
Actual: 4881.9 Prior: 4631.4 No Revision

DOE Gasoline Implied Demand
Actual: 8724.0 Prior: 8622.4 No Revision

Here is the 1 minute chart of the Crude Oil Future. Despite the draw it rallied:

of course part of this was the fact that Crude had sold off heading into the news, here is the 5 minute chart of Crude heading into the release:

Also included a 2 minute chart of Chesapeake and a 1 minute chart of Exxon:

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