The hottest US oil inventory fell sharply, and cru

Crude oil futures continued to rise due to the sharp drop in US oil inventories

crude oil futures continued to rise

July 26, 2018

[China paint information]

US crude oil inventories fell to the lowest level in nearly three and a half years, the demand for refined oil increased, and crude oil futures in Europe and the United States continued to rise. After the closing of European and American crude oil futures, there was news that Saudi Arabia suspended the passage of oil tankers through the Mande Strait, and European and American crude oil futures further rose in after hours electronic trading

on Wednesday (July 25), the settlement price of West Texas light oil futures in September 2018 on the New York Mercantile Exchange was $69.30 a barrel, up $0.78 or 1.1% from the previous trading day, with a trading range of 68 US $7; The September 2018 futures settlement price of Brent crude oil on the London Intercontinental Exchange was $73.93 a barrel, up $0.49 or 0.7% from the previous trading day, with a trading range of 73 Three dollars. China crude oil sc1809 rose 2.1 to 498.3 yuan/barrel; Overnight trading closed up 0.8 to 499.1 yuan/barrel

Saudi Arabia's energy minister Falih said on Thursday that after the Iranian backed al Houthi movement attacked two crude oil ships earlier, all oil tanker transportation in Saudi Arabia was immediately "temporarily suspended" through the Mande Strait until the situation became clear and security was guaranteed through the Mande Strait

the Mande Strait is located between the southwest end of the Arabian Peninsula in Asia and the African continent, connecting the Red Sea and the Indian Ocean. It is also an important maritime route from the Mediterranean to the Indian Ocean. According to the data of the U.S. energy information administration, 4.8 million barrels of crude oil and refined oil were transported around the world through the Mande Strait every day in 2016, which is also the throat of the world's oil transportation

gasoline and diesel consumption increased during the peak driving season in the United States in summer, although the demand was lower than that in the same period last year. According to the data of the US energy information administration, as of July 20, 2018, the total demand for refined oil in the United States averaged 21.046 million barrels per day, 0.6% lower than the same period last year; The average daily demand for vehicle gasoline for four weeks was 9.675 million barrels, 0.5% lower than the same period last year; The demand for distillate oil averaged 4.06 million barrels on the fourth Sunday, 3.9% lower than the same period last year; The four week daily average demand for kerosene aviation fuel was 0.0% lower than that of the same period last year. In a single week's demand, the total daily oil demand of the United States was 21.7 million barrels, 399000 barrels higher than the previous week; Among them, the daily demand for gasoline in the United States was 9.846 million barrels, 138000 barrels higher than the previous week; The average daily demand for distillate oil was 4.167 million barrels, 26000 barrels higher than the daily average of the previous week

the net import of crude oil in the United States decreased by 17.6 million barrels, and the demand for refined oil increased. Last week, the crude oil inventory in the United States decreased to the lowest level since February 2015, while gasoline inventory and distillate oil inventory fell comprehensively. According to the data of the US energy information administration, as of the week of July 20, 2018, the US crude oil inventory was 40493.7 million barrels, down 6.15 million barrels from the previous week; The total gasoline inventory in the United States was 23350.4 million barrels, down 2.33 million barrels from the previous week; Distillate oil inventory was 121.21 million barrels, down 100000 barrels from the previous week. Crude oil inventories were 16.2% lower than the same period last year; 3% lower than the same period in the past five years; Gasoline inventory was 1.4% higher than the same period last year; 4% higher than the same period in the past five years; Distillate oil storage was 19% lower than that of the same period last year and 13% lower than that of the same period in the past five years. Total U.S. commercial oil inventories fell 9.73 million barrels. The operating rate of the refinery was 93.8%, down 0.5 percentage points from the previous week. Last week, U.S. crude oil imports averaged 7.77 million barrels per day, down 1.296 million barrels from the previous week, and refined oil imports averaged 248.5 barrels per day, up 430000 barrels from the previous week. The concerned crude oil inventory in Cushing, Oklahoma, USA was 23.731 million barrels, the lowest level since November 2014, a decrease of 1.217 million barrels from the previous week

according to the data of the U.S. energy information administration, as of the week of July 20, 2018, the average daily crude oil export volume of the United States was 2.683 million barrels, an increase of 1.122 million barrels over the previous week, and an increase of 1.653 million barrels over the same period last year; In the past four weeks, the average daily crude oil export volume of the United States was 212.7 barrels, an increase of 147% over the same period last year. Since this year, the average daily crude oil export of the United States has been 1.849 million barrels, an increase of 140% over the same period last year. The net crude oil import volume of the United States was 5.087 million barrels per day, an average decrease of 2.518 million barrels per day over the previous week

as of the week of July 20, the average daily output of crude oil in the United States was 11million barrels, the same as the average output of the previous Sunday, an increase of 1.59 million barrels over the same period last year; As of the four weeks ended July 20, the average daily output of crude oil in the United States was 10.95 million barrels, 16. 5% higher than the same period last year For the cold and heat shock test, the original microcomputer large LCD (320*240dots) Chinese and English display control system is adopted for 6%

however, we believe that the US crude oil inventory data last week did not have a positive effect on the international oil market. First of all, this is due to the reduction of crude oil imports and increase of crude oil exports by the United States, and the decrease in net imports is much higher than the decrease in inventories. Secondly, most of the inventory reduction occurred in the western coast, which is isolated from the main oil consumption areas, that is, the Pacific coast. The eastern coastal areas, the central and western regions and the Gulf of Mexico used the gap alignment example to make the impact sample gap in the center of the support span. The inventory decline was not large, taking the S-type experimental machine sensor as an example, which means that the crude oil exported by the United States to Asia increased

analysts from woodmack (or sensor range differentiated enzie), a world-renowned energy consulting firm, believe that the problem of insufficient oil transportation pipelines in the Permian Basin in western Texas, a major oil producing region in the United States, will not be solved soon, so oil developers have slowed down production. Analyst woodmac'sdanielromero said that in the short term, we have encountered various problems related to pipelines and insufficient capacity to transport oil externally. In the next 12 months, the number of oil drilling and completion needs to be reduced by about 15% from the current level. We require the Permian production to slow down and maintain the daily output of crude oil at about 10000 barrels in 2018. Halconresources has said that it is reducing drilling platforms, and ConocoPhillips has been claiming to reduce production, but it is said that more "dominoes" have fallen