Daily Energy Report
Crude Oil Futures for December 2019 settled down $0.48 @ $55.06/bbl trading in a $1.31 range including the overnight-RBOB settled down 2.12/cpg and Heating Oil settled down 4.27/cpg. The American Petroleum Institute’s weekly Crude Oil storage data released late Tuesday afternoon showed that domestic supplies increased by + 592 thousand barrels for the week ended October 25th. The weekly API data also showed storage increases of +1.6 mil/bbl for Gasoline and +1.9 mil/bbl for Distillates. The Department of Energy weekly Crude Oil storage data released early Wednesday morning showed that domestic supplies increas ed by +5.7 million barrels for the week ended October 25th. The weekly DOE data also showed storage declines of -3.0 mil/bbl for Gasoline and -1.1 mil/bbl for Distillates.
Natural Gas Futures for December settled up $0.052 @ $2.691/mmbtu trading in a .107 cent range including the overnight session. Preliminary expectations for this Thursday mornings weekly Energy Information Administration Natural Gas storage report calls for an addition of between +85 and +92 bcf for the week ended October 25th.That compares with an increase of +87 bcf in the preceding week, a build of +48 bcf a year earlier and a five year average injection of +63.2 bcf. Updated weather forecasts show mostly normal temperatures to prevail along the Western third of the lower forty-eight towards Southern Texas, while a dip of cooler than normal temperatures descends over the Great Lake region from Canada, almost reaching the Central Gulf and East Coasts.Back