Squawk / 23 August 2017 at 12:50 GMT
Head of Commodity Strategy / Saxo Bank
Crude oil trading weaker but still within the range that has been established during the past week. Following the Libya production on and then off news yesterday the market awaits the 'Weekly Petroleum Status Report' from the EIA at 1430 GMT. Another reduction in crude oil stocks has been off-set by expectations of rising fuel stocks.
Other numbers to look out for are exports which has the potential of rising given WTI's current elevated discount to Brent. Imports from major Opec producers could also attract some attention, especially if a slowdown is being reported.
Production estimates will also receive some attention after last weeks strong 79,000 b/d rise helped off-set what otherwise was a bullish report.
Following the release i will post comments and charts below.
23 August
Market Predator Market Predator
Friday's session was mystery for me. 3% UP and on Monday nearly 3% down :((
23 August
Ole Hansen Ole Hansen
agree MP and it speaks volumes about the current lack of direction
23 August
Ole Hansen Ole Hansen
Both crude and gasoline stocks dropped in line with surveys. Refinery demand slowed while gasoline demand remained strong. Production rose 26k b/d. Gasoline initially trades higher in relief that inventories did not replicate the API rise.
23 August
Ole Hansen Ole Hansen
03 September
MaksimYaroslav MaksimYaroslav
This comment has been redacted
10 November
Vladislav Yakov Vladislav Yakov
This comment has been redacted


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