02-06-2022, 11:06 AM
(02-06-2022, 06:59 AM)fenders53 Wrote: [ -> ]It was priced for bankruptcy. Scary time in oil.I dint believe it could go bankrupt. Icahan was buying like there is no tomorrow.
(02-06-2022, 06:59 AM)fenders53 Wrote: [ -> ]It was priced for bankruptcy. Scary time in oil.I dint believe it could go bankrupt. Icahan was buying like there is no tomorrow.
Quote:Summary of Weekly Petroleum Data for the week ending February 4, 2022
U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending February 4, 2022 which was 328,000 barrels per day more than the previous week’s average. Refineries operated at 88.2% of their operable capacity last week. Gasoline production increased last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day.
U.S. crude oil imports averaged 6.4 million barrels per day last week, decreased by 0.7 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 12.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 514,000 barrels per day, and distillate fuel imports averaged 440,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.8 million barrels from the previous week. At 410.4 million barrels, U.S. crude oil inventories are about 11% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.6 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 0.9 million barrels last week and are about 19% below the five year average for this time of year. Propane/propylene inventories decreased by 1.9 million barrels last week and are about 11% below the five year average for this time of year. Total commercial petroleum inventories decreased by 8.1 million barrels last week.
Total products supplied over the last four-week period averaged 21.9 million barrels a day, up by 12.3% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, up by 7.9% from the same period last year. Distillate fuel product supplied averaged 4.6 million barrels a day over the past four weeks, up by 9.9% from the same period last year. Jet fuel product supplied was up 30.4% compared with the same four- week period last year.
(03-01-2022, 10:54 AM)vbin Wrote: [ -> ]Oil at 102 today, street saying it’s on the way to 120. Psx, et still look cheapI am probably out of the oil business by the end of the week. Covered calls are going to take me out. It's been a good ride. I kept selling EOG puts but I can't chase any higher. Maybe oil will consolidate soon but it sure doesn't look like it. I could be wrong, but I am pretty sure I have never seen oil run this hard offseason.
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Quote:APICrude inventories saw a huge drawdown last week (the most since September) according to API. This was a major divergence from the expected build...
- Crude -6.1mm (+2.8mm exp) - biggest draw since September
- Cushing -1mm
- Gasoline -2.5mm
- Distillates +0.4mm
(03-02-2022, 02:15 AM)vbin Wrote: [ -> ]@EricL what oil tikrs you looking at currently? Thoughts on psx, et, oxy?
(03-04-2022, 09:33 PM)vbin Wrote: [ -> ]Brk loaded 30m additional oxy shares today. Oxy up 18%. Oil is still a playThat's an understatement. Production is about to increase but it won't be fast enough.