EIA reported weekly ethanol production down 26,000 barrels to 1.003 million barrels and stocks down 813,0000 barrels TO 24.775 million. For reference, a Bloomberg poll looked for weekly US ethanol production to be down 5,000 thousand barrels and stocks up 188,000 barrels. US gasoline stocks decreased 874,000 barrels to 239.2 million and implied gasoline demand increased 202,000 barrels to 9.112 million. Net production of combined finished reformulated and conventional motor gasoline with ethanol was 8.607 million barrels, up 203,000 barrels from the previous week and represents 92.7 percent of total finished motor gasoline, down from 93.9% previous week.
US DoE Crude Oil Inventories (W/W) 24-Feb: +1.166M (est +1.900M; prev +7.647M)
– Distillate Inventories: +179K (est -500K; prev +2.698M)
– Cushing OK Crude Inventories: +307K (prev +700K)
– Gasoline Inventories: -874K (est -1.000M; prev -1.856M)
– Refinery Utilization: -0.10% (est -0.30%; prev -0.60%)
EIA: Weekly US Crude Exports Hit New Record High
EIA: US Crude Stocks Rose Last Week To Most Since May
Senior Commodity Analyst – Grain and Oilseeds
One Lincoln Center
18W140 Butterfield Rd.
Oakbrook terrace, Il. 60181
ICE IM: treilly1
Skype IM: fi.treilly
The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. This communication may contain links to third party websites which are not under the control of FI and FI is not responsible for their content.
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.