CL Redux

Long on 1's after 5's closed above TL and EMA @ 7:12

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Thanks Kid. :)

Sorry for not posting this ahead of time, but there's no way I could and trade too.

Went L@97.17 and added 2 on the way up but got shaken out of those before it went higher. Closed them @97.78. Need to be more patient. Did okay but left a lot on the table. Oh, well.

Oh, and I missed my short and add a bit earlier which I made about 4 ticks X2 on. Up 100+ ticks for the day. So that's good. Good pay for less than 2 hours worth of work. :)

ADD: Sorry. Posted the wrong chart from earlier. :)
 

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Here's the report.

Summary of Weekly Petroleum Data for the Week Ending July 8, 2011

U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending July 8, 97 thousand barrels per day below the previous week’s average. Refineries operated at 88.0 percent of their operable capacity last week. Gasoline production decreased last week, averaging nearly 8.9 million barrels per day. Distillate fuel production increased last week, averaging almost 4.5 million barrels per day.

U.S. crude oil imports averaged 9.0 million barrels per day last week, down by 854 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.2 million barrels per day, 352 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 752 thousand barrels per day. Distillate fuel imports averaged 109 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 355.5 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 0.8 million barrels last week and are in the lower limit of the average range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 3.0 million barrels last week and are in the upper limit of the average range for this time of year. Propane/propylene inventories increased by 3.1 million barrels last week and are below the lower limit of the average range. Total commercial petroleum inventories increased by 4.3 million barrels last week.

Total products supplied over the last four-week period have averaged 18.9 million barrels per day, down by 1.5 percent compared to the similar period last year. Over the last four weeks, motor gasoline product supplied has averaged 9.2 million barrels per day, down by 0.9 percent from the same period last year. Distillate fuel product supplied has averaged 3.5 million barrels per day over the last four weeks, down by 5.2 percent from the same period last year. Jet fuel product supplied is 1.4 percent higher over the last four weeks compared to the same four-week period last year.
 
Take a break and finish watching "The Lincoln Lawyer" from last night. :) It's good. :)

July 13, 2011, 10:55 a.m. EDT

Crude-oil, gasoline inventories decline: EIA

SAN FRANCISCO (MarketWatch) -- U.S. crude oil inventories declined by 3.1 million barrels for the week ending July 8, according to the U.S. Energy Information Administration Wednesday. Following the news, crude oil for August delivery (NMN:CL1Q) , the most active contract, rose $1.10, or 1.1%, to $98.53 a barrel on the New York Mercantile Exchange. It was trading lower shortly before the data were released. The EIA also said total gasoline inventories declined by 800,000 barrels and distillate fuel inventories increased by 3 million barrels for the period. Analysts surveyed by Platts expected crude oil stockpiles to decline by 2.1 million barrels, gasoline to increase by 700,000 barrels, and distillate inventories to increase by 800,000 barrels. August gasoline (NMN:RB1Q) rose 1.5% to $3.14 a gallon on Nymex.
 
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