Suncor Energy Inc. T.SU

EIA Builds, Crude +7.9M, Gas +2.1M, Dist +2.1M

[MigraineCall]

Crude inventories soared... only they didn't.
What soared was the DOE's "adjustment" factor to 1.9mmb/d from 0 last week.
Once again, the entire "increase" was in some excel spreadsheet.

Massive +13.559M adjustment and +1.883M SPR release.

This is why Crude still trades up today, near $70.
Producer stocks still reeling from the news, and havn't completely read the memo yet.








US crude imports by origin in kbpd (incl. w/w changes)
Canada -165 to 3339
Mexico +918
Saudi Arabia +611 to 677
Colombia +57 to 184
Iraq -178 to 252
Ecuador -164 to 54
Nigeria -12 to 132
Brazil +8 to 79
Libya -90 to 0



US implied oil demand (product supplied) rose by 1.187mbpd w/w to 20.408mbpd last week w/w in kbpd gasoline -25 jet fuel +51 distillate -240 residual fuel oil +3 propane/propylene -350 other oils +1747 EIA


US crude inventories rose by 6.037mb (commercial: +7.919mb; SPR: -1.882mb) EIA

EIA data, week ending 6/9 Crude oil: +7.9M Domestic prod: 12.4MMbpd SPR: -0.5M Cushing: +1.5M Gasoline: +2.1M Impld mogas demand: 9.19Mbpd Distillates: +2.1M Refiner utilz: 93.7% Total exports: 9.66MMbpd


EIA (wk ending 9 June) Crude: 7.919M Cushing: 1.554M Gasoline: 2.108M Distillates: 2.123M

[555rookie555]

Migraine, are you still fully loaded and expecting short term upside? 

[MigraineCall]

Yes. Fully loaded. I have no idea when it will turn, just that the fundamental pressure is increasing every day. It is not going to be today obviously with a headine build, and FOMC. Still we trade around $69. However, look at the prices of producers, such great deals out there. In any case, I hope it happens before June 21, as that is when all humanity will be wiped out:

[Experienced]

Curiously, that date corresponds to the her last day in High School....lol

[Obscure1]

luv the Greta repost....the internet is forever I wonder what the little ball of hate is doing these days.

[Experienced]

Apparently besides taking every Friday off playing hookey by having a sit-in at her high school, she was beavering away to graduate High School at the age 20 when everyone else graduating is 18...

[meritmat]

  I give her parents credit.  They turned her brand into millions of dollars.  Child exploitation at its finest 

[pooltec]

I am holding oils until at least mid summer.  The spr releases are supposed to be finished end of June. Lets see what happens after mega driving July long weakend and no spr release in the report!

[pooltec]

What the heack is the adjustment factor? A sham to make money to buy HOU now since next week wil be a draw?