Tag Archives: EIA

Crude Faces Key Test Today

After a monster draw on inventories in the API data released last night,  crude oil faces a key test on the EIA inventory release today.   If EIA confirms API and the oil price can’t hold its gains,  trouble in … Continue reading

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Crude Oil Price Regains 200-day M.A.

The May Crude Oil futures contract has regained its 200-day moving average in overnight trading.  Significant. Crude is lifting on the back of a bigger than expected draw as measured by the API.   Specs have also reduced their net long … Continue reading

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Gas expenditures as % income at 30-year high

Paid over $4.00 a gallon this weekend.  This high this early in the year brings the gas price back on the macro radar screen. The EIA notes, Gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just … Continue reading

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Asia Is The World’s Largest Oil Consuming Region

Nice data from the EIA showing petroleum consumption by region.  This, in part, explains why the stock rallies are starting to sputter in Korea and India, both heavily exposed to oil prices. Bloomberg reports that “in 2011, Japan, South Korea, … Continue reading

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Sources of U.S. Petroleum Imports

Ask most Americans the major source of U.S. crude oil imports and they will probably respond the Persian Gulf.   Wrong!  The chart below shows the U.S. imports less than 15 percent from the Gulf.  More than 5o percent of petroleum … Continue reading

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