Swift Energy Co

The API released its weekly crude oil inventories report on July 6. US crude oil inventories fell by 6.7 MMbbls for the week ending July 1, 2016.

Crude oil prices rose by ~42% since the lows in February 2016. The major reasons were the slowing US production and the new crude oil production deal.

US distillate inventories rose by 0.4 MMbbls to 146.7 MMbbls on May 19–26, 2017. Distillate inventories rose 0.3% week-over-week but fell 1.9% YoY.

US refineries operated at 93.4% of their operable capacity in the week ending May 5, 2017. The rise in refinery demand is bullish for crude oil prices.

The EIA released its weekly crude oil report on May 24, 2017. US gasoline inventories fell by 0.8 MMbbls to 239.9 MMbbls on May 12–19, 2017.

December WTI crude oil futures contracts trading in NYMEX fell by 1.4% on Monday, October 26, 2015. Crude oil prices fell for the second day.

The API estimated that US gasoline inventories fell by 1.1 MMbbls from March 17–24, 2017. US distillate inventories fell by 2 MMbbls during the same period.

So far, crude oil prices and broader markets such as the S&P 500 (SPY) (SPX-INDEX) are diverging in 2017. SPY has risen 4.9% YTD (year-to-date).

The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 2 MMbbls to 148.3 MMbbls on April 7–14, 2017.

The EIA estimated that four-week average US gasoline demand rose by 210,000 bpd (barrels per day) to 9,312,000 bpd from March 17–24, 2017.

The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 1.72 MMbbls to 147.7 MMbbls on July 28–August 4, 2017.

The API released its weekly crude oil inventory report on June 1. US crude oil inventories rose by 2.4 MMbbls for the week ending May 27, 2016.

US crude oil production rose by 21,000 bpd to 9,314,000 bpd between April 28, 2017, and May 5, 2017. Production rose 0.2% week-over-week and 5.8% YoY.

Supply stripping demand caused crude oil prices to fall by almost 66% since June 2014. However, oil prices rose almost 37% from the lows in February 2016.

Hedge funds increased their net long positions in US crude oil futures and options by 16,345 contracts to 149,951 contracts on June 27–July 4, 2017.

The U.S. Energy Information Administration estimates that monthly US crude oil production fell 24,000 bpd (barrels per day) to 9.1 MMbpd (million barrels per day) in April 2017.

ETF Securities Changing Dollar Dynamic The rule of thumb known to many investors is that the US dollar has an inverse relationship with oil and energy prices. This negative relationship was most prominent from 2003 to 2014 (see “Oil’s inverse relationship to the dollar was most prominent from 2003 through 2014” chart below). During this […]

US gasoline futures contracts for June delivery fell 0.1% to $1.60 per gallon on May 17, 2017. Prices fell due to a lower fall in US gasoline inventories.

The EIA (U.S. Energy Information Administration) reported that US gasoline inventories fell 2.9 MMbbls (million barrels) to 236.1 MMbbls between March 31, 2017, and April 7, 2017.

The EIA reported that US gasoline inventories fell by 0.9 MMbbls (million barrels) to 256.2 MMbbls between January 27, 2017, and February 3, 2017.

For the week ending December 9, 2016, US gasoline inventories were 5% higher than they were in the same period in 2015.

OPEC’s monthly report highlighted that India’s crude oil demand rose by 0.6 MMbpd in March 2016, 15% higher than in the corresponding period in 2015.

WTI and Brent crude oil prices settled below $50 per barrel due to profit booking. Oil traders were booking profit ahead of the US Memorial Day holiday on Monday, May 30, 2016.

For the week ended April 22, 2016, distillate inventories are expected to fall. The estimates of falling gasoline and distillate inventories could benefit crude oil prices.

On March 23, 2016, the EIA reported that US on-highway diesel fuel prices increased by 1% to $2.1 per gallon on March 21 compared with the previous week.

The US Dollar Index (DXY) depreciated against global currencies. It hit a two-week low. The US dollar fell by 0.2% on March 7, 2016.

US oil and gas exploration and production companies are under severe pressure.

During the 1985-86 crude oil crash, OPEC (Organization of Petroleum Exporting Countries) decided to defend its market share by pumping more oil.

December WTI crude oil futures fell for the fourth time in the last five trading sessions. Prices are moving towards the nearest support level within the price channel.

The net debt of US oil and gas exploration and production companies increased from $81 billion in 2010 to $169 billion by 1H15. The main reason is the catastrophic fall in crude oil prices.