US commercial crude stocks jumped 10.1 million barrels during the week ended January 16, according to the latest data from the US Energy Information Administration. The inventory, at 397.9 million barrels, was 16% above the EIA five-year average for the same reporting week. Read a thorough analysis of the EIA data here.
Archive for the ‘Platts analysis’ Category
By News Desk | January 22, 2015 04:20 PM Comments (0)
By News Desk | January 14, 2015 04:10 PM Comments (0)
The latest data from the US Energy Information Administration shows US commercial crude oil stocks were up 5.4 million barrels to 387.8 million barrels for the week ended January 9. Cushing stocks have risen 10 million barrels during the last six weeks, possibly driven by traders storing crude oil there even as Cushing’s role has mostly transformed from a storage hub to a transit hub. Read the full Platts analysis here.
By News Desk | December 24, 2014 10:11 AM Comments (0)
A big net importer of crude oil or oil products doesn’t just import. It might export too, a lot, and the US is a prime example of that. The US remains a net importer of about 5 million b/d or less of total petroleum barrels, yet is the single biggest exporter of oil products in the world.
China isn’t quite at that level yet, but what started out as an interesting quirk in the data earlier this year is now clearly a trend: China is a net exporter of oil products. You can see our analysis of the November figures here.
By News Desk | December 17, 2014 04:05 PM Comments (0)
US commercial crude oil stocks were 847,000 barrels lower for the week ended December 12, helped along by a drop in imports, according to data released Wednesday from the US Energy Information Administration.
It represented a smaller-than-expected draw, but oil futures jumped regardless on a wave of short covering. Read more in the Platts analysis here.
By News Desk | December 11, 2014 10:35 AM Comments (0)
Soaring crude oil inputs at US refineries helped to push combined US gasoline and distillate stocks 13.78 million barrels higher the week ended December 5, US Energy Information Administration (EIA) oil data showed Wednesday. Despite the higher demand from refiners, the buildup in US product stocks weighed on the oil complex. Read the full Platts analysis of the EIA data here.
By News Desk | December 9, 2014 05:27 PM Comments (1)
By News Desk | December 3, 2014 03:56 PM Comments (0)
The biggest crude oil draw was on the US West Coast again this week. Analysts tend to downplay the significance of USWC stockpile movements because the region is mostly disconnected from Cushing, Oklahoma. You can read Platts’ analysis of the Energy Information Administration figures here.
By News Desk | November 26, 2014 03:17 PM Comments (0)
It was one of those weeks that sometimes vexes analyst: a relatively big build in crude oil inventories reported by the Energy Information Administration, but a lot of it coming on the US West Coast. As our weekly analysis explains here, traders tend to dismiss those figures.
By News Desk | November 26, 2014 09:08 AM Comments (0)
By News Desk | November 19, 2014 04:51 PM Comments (1)
A small expected build in crude oil stocks in the US last week actually turned out to be a fairly large build, given normal trends at this time of the year. You can read Platts’ analysis of the Energy Information Administration figures here.