Market at a Glance

 

The US Dollar Index is -.154 @ 103.685.

 The DOW futures are down -101 @ 34,073.

 The market completely ignored the huge build in crude stocks of +16.283 mill bbls vs. the average guess of a build of +1.026 mill bbls, this was the largest build the DOE reported in crude stocks since June of 2021.

 The strength is contributed to a probable increase in interest rates by the FED and hopes of increased demand for the reopening of China.

 

API

DOE Guess (mill bbls)

DOE Actual

 

 

Reuters

Bloomberg

WSJ

Average Guess

 

Crude mill bbls

+10.507

+1.166

+1.112

+0.800

+1.026

+16.283

Gasoline mill bbls

+0.846

+1.543

+1.211

+1.500

+1.418

+2.316

Distillate mill bbls

+1.728

+0.447

+0.027

+0.200

+0.225

-1.285

Cushing mill bbls

+1.954

 

 

 

 

+0.659

Refinery Utilization

 

0.3%

0.0%

0.2%

0.2%

-1.4%

Gasoline Demand mill bpd

 

 

 

 

 

-0.154

Distillate Demand mill bpd

 

 

 

 

 

+0.132

Crude Production mill bpd

 

 

 

 

 

0.000

January’s 3% increase in retail sales was the largest in nearly 2 years,