Dominick A. Chirichella

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Energy Market Analysis is published daily by the Energy Management Institute 1324 Lexington Avenue, # 322, New York, NY 10128. Copyright 2008. Reproduction without permission is strictly prohibited. Subscriptions: $129 for annual orders. Editor in Chief: Dominick Chirichella, Publisher: Stephen Gloyd, Editor Sal Umek.

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Report: Expect crude oil stocks to decrease

Dominick A. Chirichella
December 7, 2016
Today the EIA released their latest Short Term Energy Outlook Report, which shows that U.S. crude oil production averaged 9.4 million barrels per day (b/d) in 2015, and it is forecast to average 8.9 million b/d in 2016 and 8.8 million b/d in 2017.

Crude prices lower after inventory report

Dominick A. Chirichella
November 2, 2016
The enerygy complex is trading lower after the EIA released its latest weekly oil inventory report. The data showed Total Crude & Product stocks increased by 9.047/mmbls to 1340.731/mmbls for week ending Oct 28. Looking at the year-on-year for Total Crude & Product stocks we see we are now 70.2/mmbls above last year’s level for this time of the year and above the five-year average by 229.1/mmbls.

Crude oil prices higher after the inventory report

Dominick A. Chirichella
October 5, 2016
The energy complex is trading higher after the EIA released its latest weekly oil inventory report. The data showed that total crude &and product stocks decreased by 11.210/mmbls to 1379.697/mmbls for week ending Sept. 30.

Crude prices higher after the inventory report

Dominick A. Chirichella
September 28, 2016
The energy complex is trading higher after the EIA released its latest weekly oil inventory report. The data showed Total Crude & Product stocks decreased by 10,000/bbls to 1390.907/mmbls for week ending Sept. 23. Looking at the year on year for Total Crude & Product stocks we see we are now 89.6/mmbls above last year’s level for this time of the year and above the five year average by 242.6/mmbls.

Crude prices higher after the EIA oil inventory report

Dominick A. Chirichella
September 21, 2016
The energy complex are trading higher after the EIA released its latest weekly oil inventory report. The data showed Total Crude & Product stocks decreased by 6.034/mmbls to 1390.917/mmbls for week ending Sept. 16. Looking at the year-on-year for Total Crude & Product stocks we see we are now 93.2/mmbls above last year’s level for this time of the year and above the five-year average by 242.9/mmbls.

Crude: Report projects surplus well into 2017

Dominick A. Chirichella
September 14, 2016
Currently the spot WTI and Brent crude oil contracts seems to be heading toward their respective technical trading range lows. If most of the news remains biased to the bearish side the aforementioned contracts are likely to test the lows from the first of the month and if breached could result in an even deeper slide heading into the informal OPEC/non-OPEC meeting in Algeria in a few weeks.

Crude oil prices lower after the EIA oil inventory report

Dominick A. Chirichella
August 31, 2016
The crude oils are trading lower after the EIA released its latest weekly oil inventory report. The data showed that total crude and product stocks increased by 4.503/mmbls to 1404.679/mmbls for week ending Aug. 26.

Report shows surprise build in crude inventories and decline in refined products

Dominick A. Chirichella
August 10, 2016
The first round of fundamental data hit the media airwaves mid-day with the release of the EIA forward projections followed by the API data late in the day. The EIA report was biased to the bearish side as they raised its estimated for U.S. production (see the charts below for more details).

Contrary to reports, global oil market already rebalancing

Dominick A. Chirichella
July 27, 2016
The crude oil complex traded mostly on the defensive once again on Tuesday as the current fundamental outlook seems to have moved into the primary price driver’s seat. At the end of the day the American Petroleum Institute (API) released its weekly inventory snapshot with mostly small changes with the main feature being a large crude oil inventory build in Cushing, Okla., and a smaller than expected decline in gasoline stocks.

Crude prices mixed after inventory report

Dominick A. Chirichella
July 20, 2016
Crude oil prices are mixed after the EIA oil inventory report. The oils are trading mixed after the EIA released its latest weekly oil inventory report.