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Wed, 23rd August 2017

Anirudh Sethi Report

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Archives of “Natural Gas” Category

DOE crude oil inventories -8945K vs -3382K estimate

Gas inventories +22K vs -900K

The US crude oil inventories had a much higher draw of -8945K vs estimate of -3382K. However the private data last night at -9155k gave traders a heads up for a potential bigger than expected draw. The price of crude oil is trading a few cents lower at $47.67 up $0.11
  • Gasoline inventories showed an add of 22K vs -900K estimate
  • Cushing also had a build of 678K vs 569K last week
  • Gasoline demand over the past 4-week 9.75m BPD, down 0.2% from a year ago
  • US crude exports rise 877,000 bpd up from 707,000 last week
  • US crude production rises to 9.5M bpd from 9.4M last week
A higher than expected drawdown but little market reaction likely due to the private data last night