Suncor Energy Inc. T.SU

EIA Inventories Report Massive Draw: 10.64 M bbls

[MigraineCall]

EIA reporting a 5.4mln bbl drop in #crudeoil stocks driven by a 1.2 mln/day reduction in net imports. #Gasoline and distillate stocks both rising by more than expected. Production left unch while 4.1mln bbl was added from SPR #OOTT


Crude -5.40MM, Exp. -1.9MM Gasoline +2.207MM Distillate +1.120MM Cushing -1.624MM Production 12.1MM, unch Adding the SPR -4.1MM drain, Crude stocks dropped by almost 10MM


US petroleum inventories fell by 10.640mb w/w to 1,608.865mb last week - EIA #oott

S implied oil demand (product supplied) fell by 180kbpd w/w to 21.087mbpd last week w/w change in kbpd gasoline -269 jet fuel +102 distillate -298 residual fuel oil +67 propane/propylene -262 other oil +481 EIA #oott


EIA data, week ending 11/12 Crude oil: -5.4M Domestic prod: 12.1MMbpd SPR: -4.1M Cushing: -1.6M Gasoline: +2.2M Impld mogas demand: 8.7MMbpd Distillates: +1.1M Refiner utilz: 92.9% Total exports: 9.89MMbpd #oil #OOTT #gasbuddy #eia


EIA Crude: -5.400M Cushing: -1.624M Gasoline: 2.207M Distillates: 1.120M

[newtonboy]

Never ceases to amaze me what geo- political events occur to keep O/G prices down dispite the on going demand and draw downs. 

[MigraineCall]

Yes. Nearly every commodity is red today. Good retail sales numbers lead to more hikes, so it deflated the indexes.  Not a risk on day. XLE is down about 2% in the US, and getting continued selling pressure, which our large Canadian oil companies mirror. Realize also, gasoline and diesel normally drop in price this time of year, which act to push down crude prices. The long term outlook