Tag Archives: EIA

Crude Faces Key Test Today

Posted on July 12, 2017 by macromon

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.

Posted on April 4, 2017 by macromon

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

Posted on February 19, 2013 by macromon

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 →

Posted in Crude Oil, Energy | Tagged , , | 3 Comments

Asia Is The World’s Largest Oil Consuming Region

Posted on February 26, 2012 by macromon

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

Posted on October 4, 2011 by macromon

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 →

Posted in Charts, Crude Oil | Tagged , , , | 2 Comments