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Crude Oil Makes New Highs as U.S. Inventories Fall for Tenth Straight Week; US Dollar Volatility Skewed Price to the Upside

In a week of political whiplash, the US Dollar stands on uncertain ground as traders grow weary of signals from the White House and Department of the Treasury. The US Dollar has been facing heavy [...]

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Gains in Energy Complex Slow Over US Production and Speculative Positioning Concerns

Concerns over higher US oil production and a crowded speculative market put the breaks on any price gains in WTI for the last week and a half. For the week ending 1/14/2018, US production rallied [...]

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Refinery Outages Strengthen ULSD Basis in Gulf Coast, Mid Continent Markets; Seasonality Favors Bearish Momentum in ULSD Crack Spread

US available capacity remains suppressed following Winter Storm Inga. Gulf Coast capacity has fallen from 10.8 million to as low as 9.5 million and currently stands at 9.7 million. Marathon, [...]

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Speculators Challenge Historic Long Positioning as Global Inventories Fall

Speculative positioning in NYMEX WTI futures is nearing historic levels as net position for Managed Money contracts climbs to 432,650 and the hedge fund ratio jumps to 15.13. Net positioning is [...]

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US Oil Production Falls, Dollar Continues to Weaken

A series of back to back news releases pushed the US dollar significantly lower this week and helped sustain higher prices for crude oil and its products. On Wednesday morning, China released [...]

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API Estimates Push Crude Higher; US Dollar Tumbles on Reports China May Slow or Halt US Treasury Purchases

ULSD futures traded higher overnight after the API’s release of inventory estimates yesterday at 4:30 pm with prices climbing as high as $2.0844. ULSD’s rally seems overly dependent [...]

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CFTC COT Update for 1/2/2018

A constant stream of bullish events has pushed crude oil and its products higher since the end of November. On December 7, a leak was detected on the Forties Pipeline System in the North Sea. The [...]

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EIA Weekly Petroleum Status Report 12/29/2017

Crude oil stocks show consistent draws while distillate and gasoline continue to post builds. For the week ending 12/29/2017, crude oil stocks excluding the strategic petroleum reserve declined [...]

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Oil Trades Higher Throughout Iranian Protests

Anti-government protests began in Iran last Thursday with tens of thousands of citizens estimated to have participated. What started as peaceful protests against rising food prices and a poor [...]

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Crack Spread Update: December 2017

Our crack spread estimates are constructed through intercommodity analysis by regressing the underlying commodities against other relevant instruments. For closing values on 12/29/2017 The 3-2-1 [...]

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