Bullboard - Stock Discussion Forum Suncor Energy Inc T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks... see more

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Suncor Energy Inc > EIA Crude Draw -4.58m, Gasoline builds 1.3m

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Post by MigraineCall on Apr 19, 2023 10:48am

EIA Crude Draw -4.58m, Gasoline builds 1.3m

Higher refinery utilization rates is using more crude. Exports up. Products draw, but gasoline rises 1.6m. Weaker gasoline demand at present, as normal just before driving season.

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The EIA report in charts show the wild swings in exports, production continues to struggle reaching a new cycle high and Cushing falling for a seventh week, and refinery demand picking up. #CL_f trades softer while the 321 crack is down 2.3%

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EIA reports a 4.6m bbl drop in #crudeoil stocks, 1.3m bbl rise in #gasoline and a 1m bbl drop at Cushing. Export jumped 1.8mbd while SPR added 1.6m bbl. Production flat with gasoline demand (4-wk avg.) slows after recent rise

US DoE Crude Oil Inventories (W/W) Apr-14: -4.581M (est -250K; prev +597K) - Distillate: -355K (est -850K; prev -606K) - Cushing OK Crude : -1.088M (prev -409K) - Gasoline: +1.299M (est -1.250M; prev -330K) - Refinery Utilization: 1.70% (est 0.70%; prev -0.30%)

EIA data, week ending 4/14 Crude oil: -4.6M Domestic prod: 12.3MMbpd SPR: -1.6M Cushing: -1.0M Gasoline: +1.3M Impld mogas demand: 8.52Mbpd Distillates:-0.4M Refiner utilz: 91.0% Total exports: 11.1MMbpd

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Comment by Experienced on Apr 19, 2023 10:38pm

Meanwhile - back at the ranch - oil prices are going down.....

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Comment by Experienced on Apr 19, 2023 11:03pm

Lots of great charts my friend but here is what I am looking at.... Brent and WTI are priced in US dollars (so far) and so if the US dollar weakens against other currencies such as the Euro, then oil prices should go up. What we have seen is the exact opposite. Last Fall, the US dollar Euro exchange rate was 98 cents - you could buy a Euro for 98 cents US. I bought a ton of ...more

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Comment by autofocus111 on Apr 20, 2023 1:27am

USD Index is still running high on a multi-decade scale. I don't think the short-term FX moves like the one you refer to mean all that much. When USDCAD approaches parity again then that will confirm we're deep into an oil/commodity bull market haha. https://www.investing.com/currencies/us-dollar-index

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Comment by MigraineCall on Apr 20, 2023 5:25am

Today is a far different oil world than a year ago, undergoing tremendous and volatile changes. The USD does play a role in all commodity prices as the USD rises and falls to other currencies. Here is DXY over the year, as you pointed out. It has made a round trip in 12 months, when oil was trading at $105. So, regarding oil, since then we have had the easing of fear of Russian oil loss ...more

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Comment by autofocus111 on Apr 20, 2023 1:43am

Nice set of charts especially the top one of total inventories. 321 crack remains elevated since spiking a year ago, Any idea where to find a long-term 321 crack chart? All I have is this one. https://www.energystockchannel.com/quotes/?a=chart&ticker=$CRACK321&period=5y&title=5+Years

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