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,
