AMERICAS OIL: EIA Oil Report Shows Steep Deline in PADD 2 Utilization
Feb-20 17:28
EIA Oil Report Shows Steep Deline in PADD 2 Utilization
- Weekly US percent utilization of refinery operable capacity fell nationally to 84.9% from 85.0% a week ago. PADD 1 utilization fell to 82.1% from 83.7% a week ago. PADD 2 utilization fell to 91.8% from 94.6% a week ago. PADD 3 utilization fell to 81.9% from 82.0% a week ago. However, PADD 5 utilization rose to 85.8% from 81.2% a week ago.
- Bloomberg reports production data may be showing refiners switching yields to maximize diesel runs, which would make sense given recent cold snaps in the US and the one forecast for this week. Gasoline production was down 156k b/d last week, jet fuel was up 52k b/d, and diesel was up 180k b/d. With refiner utilization rates flat at 85% on the week, it makes it even more likely that plants are switching outputs to the most in-demand product.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US 10YR FUTURE TECHS: (H5) Gains Considered Corrective
Jan-21 17:06
- RES 4: 110-25 High Dec 12
- RES 3: 109-31 High Dec 18
- RES 2: 109-17+ 50-day EMA
- RES 1: 109-04/109-06 High Jan 21 / High Dec 31
- PRICE: 108-23+ @ 17:05 GMT Jan 21
- SUP 1: 108-00/107-06 Low Jan 16 / 13 and the bear trigger
- SUP 2: 107-04 Low Apr 25 ‘24 and a key support
- SUP 3: 107-00 Round number support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
The medium-term trend condition in Treasury futures remains bearish and the recovery that started Jan 13, is considered corrective. The contract has traded through the 20-day EMA, at 108-17. This exposes 109-06, the Dec 31 high, and 109-17+, the 50-day EMA. A clear break of the 50-day average is required to strengthen a bullish theme. The bear trigger has been defined at 107-06, the Jan 13 low.
FED: US TSY TO SELL $95.000 BLN 4W BILL JAN 23, SETTLE JAN 28
Jan-21 17:05
- US TSY TO SELL $95.000 BLN 4W BILL JAN 23, SETTLE JAN 28
FED: US TSY TO SELL $90.000 BLN 8W BILL JAN 23, SETTLE JAN 28
Jan-21 17:05
- US TSY TO SELL $90.000 BLN 8W BILL JAN 23, SETTLE JAN 28
Trending Top
Jan-30 21:43
Jan-30 21:11
