We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • LIVE IN 30 MIN: Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • ECB's De Guindos says monetary policy side effects are becoming more evident $EUR
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT to gain insight on indices and commodities for the active trader. Register here: https://t.co/gghsFsZYlx https://t.co/ujAbNhzLpz
  • Why financial market traders must monitor both monetary and fiscal policy?Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/gbDTCgqHI5
  • Heads Up:🇬🇧 GBP Unit Labor Costs (YoY) (2Q) due at 09:30 GMT (15min), Actual: N/A Expected: N/A Previous: 2.1% https://www.dailyfx.com/economic-calendar#2019-11-20
  • RT @mynamejd: SP500 earnings revisions up & down per sector - Source Refinitiv https://t.co/bvmlQCltkN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.87%, while traders in US 500 are at opposite extremes with 79.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/06877Dk0Iz
  • Heads Up:🇪🇺 EUR ECB Publishes Financial Stability Review due at 09:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-20
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: 0.37% Silver: 0.22% Oil - US Crude: -0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Nl2cW4qqNE
  • US Dollar Selloff May Accelerate After #FOMC Minutes Released - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2019/11/20/US-Dollar-Selloff-May-Accelerate-After-FOMC-Minutes-Released.html
Crude Oil Inventory Watch: Week Ending 6/18/2010

Crude Oil Inventory Watch: Week Ending 6/18/2010

2010-06-24 01:41:00
Sumit Roy,
Share:

cw062320101

cw062320102B

The report had no immediate impact on oil prices; prior to the release, crude was already lower on the back of sinking equity markets and bearish API survey data.

Taking a closer look at the numbers, total petroleum inventories are tracking closely with year ago levels. The surplus versus the 5-year average is now 66.327 million barrels, or 6.4%, down from 6.6% a week ago.

cw062320103

Crude oil inventories, on the other hand, have been building counter-seasonally for the last two weeks, sending the surplus versus the 5-year average to 29.378 million barrels, or 8.8%, the highest such surplus since October of 2009.

cw062320104

Both gasoline and distillate inventories remain above normal, with the latter still at historic highs. Gasoline inventories are 7.811 million barrels, or 3.7% above the 5-year average, while distillate inventories are 30.634, or 24.3% above the 5-year average.

cw062320105

cw062320106

On the demand side, over the last four-week period, total petroleum consumption has averaged 19.6 million barrels per day, which is up 6.9% from the year ago period. Over the same period, gasoline demand averaged 9.2 million barrels per day, up 0.8% year-over-year, while distillate demand averaged 3.9 million barrels per day, up 12.8%.

cw062320107

CWGASOLINE

CWDISTILLATE

Crude oil imports are running ahead of the year ago level; over the last four weeks, imports have averaged 9.7 million barrels per day, up 0.477 million barrels per day year-over-year. Product imports are running close to the levels of a year ago.

cw0623201010

cw0623201011

Oil inventories at Cushing, Oklahoma, the NYMEX delivery point, fell 0.8 million barrels.

cw0623201012

Calendar spreads at the front of the futures curve have tightened significantly since Cushing inventories peaked under 38 million barrels a few weeks ago. Aug/Sep is currently about -0.70, while Sep/Oct is -0.60. The prompt month spread peaked at -4.60 a little over a month ago.

U.S. crude oil production was flat compared to a week ago, but up 4.6% from the year ago level. Year-to-date, production is up 3.5% from the comparable period a year ago. Output levels will be closely watched to see whether the situation in the Gulf of Mexico is having any impact.

cw0623201013
 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.