Turmoil continues in Greece with riots and leadership turnover. Speculative interest seems to be leaving the grain markets with the weather threat reduced and crop conditions improving. A slight downward track in the energy complex with talk of releasing SPR stocks onto the market.
Tag Archives: EIA
Dollar Lowest Since ’09; Trade Watching Petroleum Inventories; Weather Pusning Grains
Positive vibe across most markets this morning. Energy Markets will be looking at gasoline stocks and implied demand from the EIA today. Gold hit new all time highs over night. Brazil to be shipping more beef to China which may lead to a reduction in corn exports because of increased feed demand. Corn areas are receiving more rain which could delay plantings, and wheat areas are not receiving need moisture.
Video: Grains Wait On USDA; Key US Numbers Today & Tomorrow
Critical day for the grain markets this morning with the USDA Quarterly Grain Stocks and Planting Intentions reports out this morning. EIA reported high crude stocks yesterday. Normally a bearish situation, but large draw down of gasoline stocks offset. Some key US economic numbers today and Non-Farm Payroll numbers tomorrow.
API and EIA Energy Stocks Report – 2008.12.31
Below is a sample of our coverage of the major industry reports. To get more indepth coverage of this report and many more, visit futures-research.com for your free 2 week trial!
EIA crude stocks rose 549,000 barrels and are now 30.037 million barrels above year ago stock levels. Also, EIA crude stocks stand 11.9 million barrels above the 16 year average. Over the last 4 weeks, crude stocks are down a combined 1.635 million barrels. Crude oil imports for the week stood at 9.249 million barrels per day compared to 9.118 million barrels per day the previous week. The refinery operating rate stood at 82.46% down 2.22 from last week and compared to last year’s rate of 89.38% and the 5yr average rate of 91.2%. Total product demand over the past 4 weeks was down 3.7% vs year ago.
EIA gasoline stocks rose 800,000 barrels and are now 2.259 million barrels above the 16 year average. Compared to year ago levels, gasoline stocks are at a 7.397 million barrel deficit. The net change in gas stocks over the last 4 weeks has been a rise of 9.16 million barrels. Gasoline demand over the past 4 weeks was down 2.27% vs year ago. Gas demand stood at 9.106 million barrels per day which is 180,000 barrels per day below year ago. Gasoline imports came in at 1.145 million barrels per day compared to 1.254 million barrels per day the previous week.
EIA distillate stocks rose 694,000 barrels and stand at 1.9 million barrels above last year’s level. Distillate demand over the past 4 weeks was down 3.3% vs year ago. Distillate demand stood at 4.31 million barrels per day compared to 4.102 million barrels per day the previous week and 30,000 barrels per day below year ago. Heating oil stocks rose 53,000 barrels and stand at 41.218 million barrels, which leaves stocks 218,000 above year ago.
