{"id":4607,"date":"2019-01-10T10:51:40","date_gmt":"2019-01-10T15:51:40","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=4607"},"modified":"2019-01-10T10:51:41","modified_gmt":"2019-01-10T15:51:41","slug":"doe-insights-january-10-2019","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/ar\/doe-insights-january-10-2019\/","title":{"rendered":"DOE Insights January 10, 2019"},"content":{"rendered":"<p>DOE Insights January 10, 2019<\/p>\n\n\n\n<p><strong>CRUDE OIL<\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td><strong>Crude Oil Stocks Draw, Less than Expectations<\/strong><br><br>The DOE reported Total Crude Oil Inventories decreased by 1.7 million barrels to 439.7 million barrels for the week ending January 4, 2019, while expectations average was for a 2.8 million barrel decrease.<br><br>Overall hydrocarbon supplies increased by 13.3 million barrels to 1,905 million barrels.<br><br>Crude Oil Production increased by 100,000 barrels per day to 11.7 million barrels per day.<br><br>Total Crude Imports were up 500,000 barrels per day at 7.8 million barrels per day.<br><br>Total Refinery Crude Runs were down 200,000 barrels per day at 17.57 million barrels per day.<br><br>The DOE report was bearish for crude oil prices as the stocks draw was less than expected. However, after an initial price drop with the release of the report, prices rallied and were up about $2.50 by the end of the trading day. Prices have rallied $10 from their lows in December with new reports of Saudi Arabian exports being cut to 7.1 million barrels per day.\u00a0 Prices have also been supported by <g class=\"gr_ gr_22 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar only-ins replaceWithoutSep\" id=\"22\" data-gr-id=\"22\">US<\/g> and China trade talks which <g class=\"gr_ gr_23 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar multiReplace\" id=\"23\" data-gr-id=\"23\">has<\/g> reduced some fears of a global economic slowdown. As we have mentioned before, we expect prices to be more affected by news headlines than fundamental supply\/demand information and this was the case today. This means crude oil prices will continue to be volatile.<br><br>We would be happy to discuss this commentary with you and provide additional market insights.\u00a0Feel free to call us at 312-348-7518 or email us at\u00a0joel.fingerman@fundamentalanalytics.com.\u00a0<\/td><\/tr><\/tbody><\/table>\n\n\n\n<figure class=\"wp-block-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"578\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-1.jpg\" alt=\"\" class=\"wp-image-4608\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-1.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-1-300x217.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-1-768x555.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"800\" height=\"598\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-2.jpg\" alt=\"\" class=\"wp-image-4609\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-2.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-2-300x224.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-2-768x574.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"800\" height=\"595\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-3.jpg\" alt=\"\" class=\"wp-image-4610\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-3.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-3-300x223.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-3-768x571.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"593\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-4.jpg\" alt=\"\" class=\"wp-image-4611\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-4.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-4-300x222.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-4-768x569.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"595\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-5.jpg\" alt=\"\" class=\"wp-image-4612\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-5.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-5-300x223.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-5-768x571.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"581\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-6.jpg\" alt=\"\" class=\"wp-image-4613\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-6.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-6-300x218.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-6-768x558.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"580\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-7.jpg\" alt=\"\" class=\"wp-image-4614\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-7.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-7-300x218.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-7-768x557.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p><strong>GASOLINE<\/strong><\/p>\n\n\n\n<p><strong>Gasoline Stocks Build, Much Greater than Expectations<\/strong><\/p>\n\n\n\n<p>Total <g class=\"gr_ gr_12 gr-alert gr_spell gr_inline_cards gr_run_anim ContextualSpelling ins-del multiReplace\" id=\"12\" data-gr-id=\"12\">MotorGasoline<\/g> Inventories increased by significant 8.1 million barrels to 248.1 million barrels for the week ending January 4, 2019. The expectations average was for a 3.4 million barrel increase.<\/p>\n\n\n\n<p>Implied Demand was down by 470,000 barrels per day to 8.79 million barrels per day.<\/p>\n\n\n\n<p>Gasoline Production was down 140,000 barrels per day to 9.39 million barrels per day.<\/p>\n\n\n\n<p>The DOE report was very bearish to gasoline prices. However, gasoline prices tracked crude oil prices, trading down after the release, but then a strong rally for the rest of the trading day.<br><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"594\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-8.jpg\" alt=\"\" class=\"wp-image-4615\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-8.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-8-300x223.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-8-768x570.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"588\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-9.jpg\" alt=\"\" class=\"wp-image-4616\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-9.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-9-300x221.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-9-768x564.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"581\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-10.jpg\" alt=\"\" class=\"wp-image-4617\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-10.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-10-300x218.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-10-768x558.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"585\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-11.jpg\" alt=\"\" class=\"wp-image-4618\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-11.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-11-300x219.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-11-768x562.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p><strong>DISTILLATES<\/strong><\/p>\n\n\n\n<p><strong>Distillates Stocks Build, Much Greater than Expectations<\/strong><\/p>\n\n\n\n<p>Total Distillates Stocks increased by large 10.6 million barrels to 140.0 million barrels for the week ending January 4, 2019, while expectations average was for a 1.9 million barrel build.\u00a0<\/p>\n\n\n\n<p>Total Distillates Production was up 30,000 barrels per day to 5.56 million barrels per day.\u00a0<\/p>\n\n\n\n<p>Total Distillates Implied Demand down by 120,000 barrels per day at 4.31 million barrels per day.<\/p>\n\n\n\n<p>The DOE report was also very bearish to distillates prices.\u00a0 However, prices tracked crude oil prices, trading down after the release, but then a strong rally for the rest of the trading day.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"581\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-12.jpg\" alt=\"\" class=\"wp-image-4619\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-12.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-12-300x218.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-12-768x558.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"588\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-13.jpg\" alt=\"\" class=\"wp-image-4620\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-13.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-13-300x221.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-13-768x564.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"587\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-14.jpg\" alt=\"\" class=\"wp-image-4621\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-14.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-14-300x220.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-14-768x564.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"591\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-15.jpg\" alt=\"\" class=\"wp-image-4622\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-15.jpg 800w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-15-300x222.jpg 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/DOE-110-15-768x567.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p>For further information contact joel.fingerman@fundamentalanalytics.com<\/p>","protected":false},"excerpt":{"rendered":"<p>DOE Insights January 10, 2019 CRUDE OIL Crude Oil Stocks Draw, Less than Expectations The DOE reported Total Crude Oil Inventories decreased by 1.7 million barrels to 439.7 million barrels for the week ending January 4, 2019, while expectations average was for a 2.8 million barrel decrease. Overall hydrocarbon supplies increased by 13.3 million barrels [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4607","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/4607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/comments?post=4607"}],"version-history":[{"count":2,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/4607\/revisions"}],"predecessor-version":[{"id":4624,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/4607\/revisions\/4624"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/media?parent=4607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/categories?post=4607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/tags?post=4607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}