Crude oil stocks drop, but decline offset by huge product builds

By Sarp Ozkan Ponderosa Energy U.S. crude oil stocks declined 5.1-million barrels last week, but this decline was more than offset by huge builds in gasoline and distillates (10.6 MMbbl and 6.3 MMbbl, respectively). The huge builds in products led to a total petroleum stocks build of 7.3 MMbbl. See a graphic illustration of today’s […]

Oil prices falling again after 4.8-million-barrel inventory build

By Sarp Ozkan Ponderosa Energy A grim, yet all-too-predictable, day for petroleum markets. Contrary to analyst expectations, crude oil stocks rose 4.8 MMbbl last week. This was not the only kick in the teeth, as both gasoline and distillate inventories rose 1.7 MMbbl and 2.6 MMbbl respectively. In the end, total petroleum product inventories posted […]

Crude oil inventories down 3.6 million barrels; prices move higher

By Sarp Ozkan Ponderosa Energy Crude oil inventories dropped by 3.6 million barrels last week, in line with the total commercial petroleum inventories’ withdrawal of 3.6 MMBbl. Withdrawals for most products were offset by the distillate build of 5.0 MMBbl. Look at our chart of today’s report here: PonderosaEnergyWPSR12042015. The petroleum inventory withdrawal caused front-month […]

U.S. oil rig count down 10 over past week

The number of active oil and gas rigs operating in the U.S. fell again over the past week, according to data released by Baker Hughes on Friday. Baker Hughes said the number of active U.S. oil rigs was down 10 from last week, to 545, which compares to 1,030 active rigs a year ago. The […]

Crude oil inventories show another build

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 1.0-MMBbl build last week, lower than the API expectation of 2.63 MMBbl but in line with the Reuters’ poll of analysts expectations, which averaged 1.2 MMBbl. (Check out the Ponderosa Energy graphic of today’s release here: PonderosaEnergyWPSR11272015 ). Total commercial petroleum inventories increased for a […]

Crude oil inventories post 1-MMBbl build

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 1.0-MMBbl build last week, lower than the API expectation of 2.63 MMBbl, but in line with the Reuters poll of analysts expectations, which averaged 1.2 MMBbl. Read Ponderosa’s visual chart here: PonderosaEnergyWPSR11202015 Total commercial petroleum inventories increased for a third week in a row, posting […]

Crude inventories up slightly; prices just above $40

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 0.3-MMBbl build last week, higher than the API release of -0.48 MMBbl from Wednesday afternoon. The Reuters poll of analysts had expected a higher number averaging 1.9 MMBbl, with the low being a draw of 1.0 MMBbl and the high a build of 3.1 MMBbl. […]

Crude oil inventories rise another 4.2-million barrels

By Sarp Ozkan Ponderosa Energy Crude oil inventories posted a 4.2-MMbbl build last week according to EIA, below the API expectation of 6.2 MMbbl. The Reuters’ poll of analysts reported a much lower expected build, at an average of 1.0 MMbbl, with a high of 3.5 MMbbl. The higher-than-expected numbers caused prices to drop starting […]

Crude inventory build in line with estimates

By Sarp  Ozkan Ponderosa Energy Crude oil inventories posted a 2.8-MMBbl build last week, according to data today from EIA. The build is in line with analyst estimates and API data. Total commercial petroleum inventories declined 2.3 MMBbl on strong gasoline draws of 3.3 MMBbl. Distillate inventories decreased by 1.3 MMBbl and propane/propylene inventories rose […]