Wednesday, February 08, 2012

DOE Crude Oil, Distillates & Gasoline Inventories - Draw on Crude, Build on Rest

This afternoon of Wednesday February 8th 2012, the DOE inventory figures for Crude, Distillates and Gasoline were released. Last week there was a great news trading profit when the figures on all 3 lined up in agreement. This week there was conflicts. Crude came out with a bullish draw, or lower deviation, but Distillates and Gasoline deviated higher for a Build, which is normally bearish.

Here is the data:
DOE U.S. Crude Oil Inventories
Median: +2500k Average: +2560k Range: +2000k to +4200k
Actual: +304k Prior: +4175k No Revision

DOE U.S. Distillate Inventories
Median: -875k Average: -700k Range: -2000k to +800k
Actual: +1174k Prior: -135k No Revision

DOE U.S. Gasoline Inventories
Median: +875k Average: +290k Range: -2000k to +1700k
Actual: +1629k Prior: +3017k No Revision

DOE Cushing OK Crude Inventory
Actual: +367k Prior: +1476k

DOE Crude Oil Implied Demand
Actual: +14133 Prior: +14004

DOE Distillate Implied Demand
Actual: +4432.3 Prior: +4732.3

DOE Gasoline Implied Demand
Actual: +8664.6 Prior: +8593.0

Crude initially followed the bullish draw on its own deviation and blipped up a bit but was reversed by the Bearish Build in the Gasoline and Distillates. Here is a 1 minute chart of the Crude oil future from a spreadbet:

Also included are some 1 minute chart of Energy Stocks, just to show how they moved after the news.

Devon - DVN

Cabot - COB

Chesapeake - CHK

Exxon - XOM

and finally BP

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