WTI Extends Gains After Large Surprise Crude Draw, ‘Adjustment’ Factor Remains High
March 29, 2023 10:06 am
Tags: adjustment, after, crude, draw, extends, factor, gains, high, joshwho, large, Media, News, remains, Surprise, wti, ZeroHedge
Categories: JoshWho News news media US News ZeroHedge
Oil prices extended recent gains overnight (but have trodden water for the last couple of hours) after a surprise crude draw reported by API last night and the ongoing dispute over Iragi crude exports via Turkey (disrupting supply).
“Supply concerns continue to support oil prices,” said Warren Patterson, the Singapore-based head of commodities strategy at ING Groep NV.
One of the biggest oil producers in Iraqi Kurdistan, Norway’s DNO ASA, has started to lower production as the dispute drags on.
However, despite the support for oil prices coming from supply concerns, oil prices are likely to remain volatile in the near term, led by the financial market turmoil, according to UBS strategist Giovanni Staunovo.
And if official inventory, supply, and demand data matches API’s that upside vol may continue as positioning is very short.
Crude -6.076mm (+300k exp) – biggest draw since 11/25/22
Cushing -2.388mm – biggest draw since Feb 2022
Gasoline -5.891mm (-1.6mm exp)
Distillates +548k (-1.1mm exp)
Crude -7.49mm (+300k exp)- biggest draw since 11/25/22
Gasoline -2.904mm (-1.6mm exp)
Distillates +281k (-1.1mm exp)
The official DOE data shows an even bigger crude draw than API reported along with a draw in gasoline stocks (6th week in a row). Cushing stocks fell for the 4th straight week while Distillates saw a small build…
The infamous “adjustment factor” dropped last week but remains extremely high historically speaking…
US Crude stocks overall remain relatively elevated…
Overall US gasoline stocks are at their lowest for this time of year since 2014…
US Crude production was flat week-over-week, as rig counts continue to decline..
WTI has been chopping around in a narrow range around $74 for the last few hours ahead of the official data and extended gains after the draws…
Finally, as Bloomberg notes, while oil has rallied from recent lows as the banking sector stabilizes, it remains on track for a fifth monthly decline amid concerns over a potential US recession and resilient Russian energy flows. Most market watchers are still betting that China’s recovery will accelerate and boost prices later this year as demand rebounds.
Meanwhile, OPEC+ is showing no signs of adjusting oil production when it meets next week, staying the course amid turbulence in financial markets, delegates said.
We also note that there is the ‘Biden Call’ sitting under the market as at some point he will have to start refilling the SPR.
- Moving Toward A Global Empire: Humanity Sentenced To A Unipolar Prison & A Digital Gulag June 9, 2023
- Colorado Bans Court-Ordered “Brainwashing” Camps For Abused Minors June 9, 2023
- Dozens Of Capitol Police Riot Helmets Were Confiscated Just Before Jan. 6, Former Lieutenant Says June 9, 2023
- Robusta Coffee Prices Soar To New Record As El Niño Sparks Supply Fears June 9, 2023
- How ‘Child-Friendly’ Drag Events Can Expose Children To Sex Offenders June 9, 2023
- Russia’s Gasoline Exports Have Surged By 37% This Year June 9, 2023
- Panicked LGBTQ Group Declares ‘National Emergency’ As Fed-Up Americans Pose Threat To Its Institutional Power June 9, 2023
- California Advances Bill To Help Shoplifters Steal June 9, 2023
- Russiagate: The Scandal That Became Business As Usual June 9, 2023
- Special Counsel Jack Smith: ‘We Have One Set of Laws in This Country’ June 9, 2023
- 49-Page Indictment of Donald Trump Unsealed; Claims Trump, Aide Hid Boxes June 9, 2023
- Trump Charges Unsealed: Here’s What’s In Them June 9, 2023
- Rogan: “When I Go To Target I Don’t Want To See F***ing Tuck Pants” June 9, 2023
- Political Satirist CJ Hopkins Under Criminal Investigation In Berlin June 9, 2023
- Judge Aileen Cannon to Preside over Trump’s ‘Boxes Hoax’ Case June 9, 2023
- It Worked: Netflix Subscriptions Explode After Crackdown On Password-Sharing June 9, 2023
- Binance.US Suspends USD Deposits, Warns Of Fiat Withdrawal Pause June 9, 2023
- Trump: “I Have Been Indicted” June 9, 2023
- Services No Longer Required: America’s Fastest-Shrinking Jobs June 9, 2023
- Exxon CEO Warns Overemphasis On Renewables Will Backfire June 9, 2023
JoshWho TV News
JoshWho - Project Blue Beam🤫 | You won't believe this, but things are about to go wild! 🚀👽 It seems like a #CloseEncounter just went down in #LasVegas! 😱 A 911 call reported ...June 8, 2023Project Blue Beam🤫 | You won't believe this, but things are about to go wild! 🚀👽 It seems like a #CloseEncounter just went down in #LasVegas ...
A fed gets recognized at staged Patriot Front march #FBI #DOJMay 16, 2023A fed gets recognized and called out at their staged Patriot Front march #FBI #DOJ https://t.co/vk9JEAQesK ...
President Trump CNN Town Hall 2023 FullMay 11, 2023
JoshWho - 🚨👀‼️ Jose Vega @JosBtrigga SNAPS at all the media including @nytimes that @TuckerCarlson was fired and Julian Assange is in detention for 'DOING YOUR JOB''. WATCH..EXP...April 27, 2023🚨👀‼️ Jose Vega @JosBtrigga SNAPS at all the media including @nytimes that @TuckerCarlson was fired and Julian Assange is in detention for 'D ...
The Government Says Business Cards Are Machine GunsApril 27, 2023So the ATF has now found two men guilty of selling key cards, claiming they are “machine guns” and they are facing life in prison. Let’s take a ...
Tucker Carlson - Good eveningApril 27, 2023Good evening https://t.co/SPrsYKWKCE ...
Md Asif Khan - Warning : Graphic Content. Atiq Ahmed and his brother Ashraf shot dead while talking to media in persence of police. #AtiqueAhmedApril 16, 2023Warning : Graphic Content. Atiq Ahmed and his brother Ashraf shot dead while talking to media in persence of police. #AtiqueAhmed https://t.co/wMT ...
Tucker: Criminals are now a protected classApril 4, 2023Fox News host Tucker Carlson shreds Alvin Bragg for his approach to the justice system and indictment of Trump on 'Tucker Carlson Tonight.' Subscribe ...
TRUMP RALLY : President Trump Holds First 2024 Campaign RallyMarch 25, 2023
Parents charged after boy found in cage inside Philadelphia homeMarch 25, 2023
Latest Hacked Sites
- JD Group - 521,878 breached accounts June 5, 2023In May 2023, the South African retailer JD Group announced a data breach affecting a number of their online assets including Bradlows, Everyshop, HiFi Corp, Incredible (Connection), Rochester, Russells, and Sleepmasters. The breach exposed over 520k unique customer records including names, email and physical addresses, phone numbers and South African ID numbers.
- RaidForums - 478,604 breached accounts May 31, 2023In May 2023, 478k user records from the now defunct hacking forum known as "RaidForums" was posted to another hacking forum. The data dated back to September 2020 and included email addresses, usernames, dates of birth, IP addresses and passwords stored as Argon2 hashes. The data was provided to HIBP by a source who requested […]
- Polish Credentials - 1,204,870 breached accounts May 30, 2023In May 2023, a credential stuffing list of 6.3M Polish email address and password pairs appeared on a local forum. Likely obtained by malware running on victims' machines, each record included an email address and plain text password alongside the website the credentials were used on. The data included 1.2M unique email addresses.
- Luxottica - 77,093,812 breached accounts May 19, 2023In March 2021, the world's largest eyewear company Luxoticca suffered a data breach via one of their partners that exposed the personal information of more than 70M people. The data was subsequently sold via a popular hacking forum in late 2022 and included email and physical addresses, names, genders, dates of birth and phone numbers. […]
- RentoMojo - 2,185,697 breached accounts May 10, 2023In April 2023, the Indian rental service RentoMojo suffered a data breach. The breach exposed over 2M unique email addresses along with names, phone, passport and Aadhaar numbers, genders, dates of birth, purchases and bcrypt password hashes.
- MEO - 8,227 breached accounts April 24, 2023In early 2023, a corpus of data sourced from the New Zealand based face mask company MEO was discovered. Dating back to December 2020, the data contained over 8k customer records including names, addresses, phone numbers and passwords stored as MD5 Wordpress hashes. MEO did not respond to multiple attempts to report the breach.
- Terravision - 2,075,625 breached accounts April 23, 2023In February 2023, the European airport transfers service Terravision suffered a data breach. The breach exposed over 2M records of customer data including names, phone numbers, email addresses, salted password hashes and in some cases, date of birth and country of origin. Terravision did not respond to multiple attempts by individuals period over a period […]
- OGUsers (2022 breach) - 529,020 breached accounts April 14, 2023In July 2022, the account hijacking and SIM swapping forum OGusers suffered a data breach, the fifth since December 2018. The breach contained usernames, email and IP addresses and passwords stored as argon2 hashes. A total of 529k unique email addresses appeared in the breach.
- The Kodi Foundation - 400,635 breached accounts April 13, 2023In February 2023, The Kodi Foundation suffered a data breach that exposed more than 400k user records. Attributed to an account belonging to "a trusted but currently inactive member of the forum admin team", the breach involved the administrator account creating a database backup that was subsequently downloaded before being sold on a hacking forum. […]
- Sundry Files - 274,461 breached accounts March 31, 2023In January 2022, the now defunct file upload service Sundry Files suffered a data breach that exposed 274k unique email addresses. The data also included usernames, IP addresses and passwords stored as salted SHA-256 hashes.
The Daily Caller
Four Children Lost After Plane Crash Found Alive After 40 Days In Colombian JungleJune 10, 2023The four children, including a baby, were found 40 days after the crash of their ill-fated plane
ADAM WEISS: How The War On Corporate Wokeness Is Finally Being WonJune 10, 2023'They will tell you so'
Men Sentenced For Stealing Over $64,000 From Food Lion StoresJune 10, 2023The Norfolk and Virginia Beach sentences will run consecutively
Gucci And Rawlings Made A Custom Glove For New York Mets’ Francisco Lindor, And It’s A Thing Of BeautyJune 10, 2023I won't lie ... I'm a little bit jealous
Anti-Pharma Dem Ruben Gallego Took Thousands In Campaign Cash From Drug CompaniesJune 10, 2023Anti-Pharma Dem Ruben Gallego Took Thousands In Campaign Cash From Drug Companies
Biden's FDA clears path for Chinese products to flood US tobacco, nicotine marketJune 10, 2023The FDA is under fire for allegedly caving to political pressure to ban vapes and e-cigarettes while simultaneously allowing Chinese products to flood the U.S. market.
California 'career criminal' apprehended in body camera footage, kills faithful K-9: PoliceJune 10, 2023A California sheriff's department released dramatic new body camera footage of a deadly shootout with a suspect who shot and killed a K-9.
Joran van der Sloot arraignment: Interpol slaps down claims Dutch embassy interfered with extraditionJune 10, 2023A high-ranking law enforcement official in Peru is dismissing claims that Dutch authorities tried to hamper attempts to bring Natalee Holloway suspect and Dutch national Joran van der Sloot to the U.S. to face charges.
Former California deputy shocked at acquittal of attacker who shot at her: 'It just blows my mind'June 10, 2023Former San Bernardino County Sheriff's deputy Meagan McCarthy detailed the 'heartbreaking' attack and her reaction to her attacker being acquitted.
San Francisco shooting in Mission District leaves 9 injured: 'Targeted and isolated'June 10, 2023Nine people were injured in a shooting in San Francisco's Mission District on Friday night, authorities said.
Florida’s ‘Dr. Deep Sea’ resurfaces after 100 days living underwater, shattering previous recordJune 10, 2023A Florida professor, who spent 100 days living 30 feet underwater, resurfaced Friday breaking the record for the longest time living underwater without depressurization.
On this day in history, June 10, 1752, Benjamin Franklin famously flies kite during thunderstormJune 10, 2023Benjamin Franklin flew a kite in a storm and advanced humanity's understanding of electricity on this day in history, June 10, 1752. Franklin was also a U.S. statesman and founding father.
NBA Finals: Nuggets one win away from franchise's first title, take commanding 3-1 lead over HeatJune 10, 2023The Denver Nuggets are one win away from their first NBA championship in franchise history after their Game 4 win over the Miami Heat on Friday.
Jon Gosselin says he 'had 8 graduations this year' but 'only attended 1' amid estrangement from 6 of his kidsJune 10, 2023Former reality star Jon Gosselin opened up about his estrangement from six of his eight children. He admitted that he only attended one of his kids' eight graduations this year.
SEAN HANNITY: There is a different set of standards for Trump and his supportersJune 10, 2023Sean Hannity discussed the differences in how the alleged mishandling of classified info by Donald Trump, Hillary Clinton and Joe Biden were investigated on "Hannity."
Man captures stunning photos of birds as they feed from his hand: See the images 3 years in the makingJune 10, 2023A photographer in the U.K. now hand-feeds the birds in his backyard after spending three years gaining their trust. He even has the photos to prove it. See the remarkable pictures.
Rams defensive coordinator Raheem Morris reunites with 3-year-old he saved from drowningJune 10, 2023Over Memorial Day Weekend, Los Angeles Rams defensive coordinator Raheem Morris saved a 3-year-old from drowning at a hotel pool in Las Vegas.
Missing Colombian children from deadly jungle plane crash found alive after 40-day searchJune 10, 2023Four missing indigenous children in Colombia who were passengers in a May 1 jungle plane crash were found alive by authorities Friday, Colombian newspaper El Tiempo reported.
Amy Schumer blasts celebrities for 'lying' about taking Ozempic and admits to trying the drug for weight lossJune 10, 2023Amy Schumer called out other celebrities for "lying" about taking the injectable drug Ozempic for weight loss. She admitted she tried Ozempic.
Why House Republicans should be cooking with gasJune 10, 2023A review into what went down in the House this past week as tension built up between GOP members and McCarthy's plan to get everyone back on track.
- Inside the Tent Camp Housing Thousands of Migrant Children – ‘No Place for a Child’
Migrant children and families are sleeping shoulder to shoulder on mats in a Texas border facility designed for 250 people that is now holding more than 4,100, according to some of the first photographs to emerge from the crowded camp that has become a focal point of the Biden administration’s struggles to absorb thousands of […]
- Atl Suspect’s Fixation on Sex Is Familiar Thorn for Evangelicals
“Sex addiction” is not an established psychiatric diagnosis, and there is a debate in the mental health community about how to define and treat compulsive sexual behavior. “There’s no evidence-based treatment for sex addiction,” said Joshua Grubbs, an assistant professor of psychology at Bowling Green State University and a clinical psychologist. Evangelical sex addiction treatment […]
- Tom Cotton Mocks Social Justice Warriors at New York Times in CPAC Speech
Sen. Tom Cotton (R-AR) on Friday mocked “social justice warriors” at the New York Times and their “meltdown” this summer over his op-ed in the paper calling for troops to restore order during the rioting at the time. Speaking on the first day of the Conservative Political Action Committee (CPAC) in Orlando, Florida, Cotton recalled how hundreds […]
- Congress Clears 2-Day Spending Extension to Finalize Stimulus Deal
Negotiators worked into Friday night to put the finishing touches on key details of the stimulus compromise, continuing negotiations on how long unemployment benefits should last, how to distribute federal relief for small businesses and the extension of a federal eviction moratorium. The plan was expected to revive the Paycheck Protection Program, a loan program […]
- SACRAMENTO Unemployment Scam Using Inmates Names Costing California Hundreds of Millions
SACRAMENTO — A rash of fraudulent pandemic unemployment claims filed under the names of jail and prison inmates, including more than 100 on death row, has bilked California out of hundreds of millions of dollars, a law enforcement task force said Tuesday. In a letter to Gov. Gavin Newsom, the task force, led by district […]
- Politics, Science and the Remarkable Race for a Corona Vaccine
WASHINGTON — The call was tense, the message discouraging. Moncef Slaoui, the head of the Trump administration’s effort to quickly produce a vaccine for the coronavirus, was on the phone at 6 p.m. on Aug. 25 to tell the upstart biotech firm Moderna that it had to slow the final stage of testing its vaccine […]
- Newsom Do as I Say, Not as I Dine Coronavirus Message
SAN FRANCISCO — It was an intimate meal in a wood-paneled, private dining room in one of California’s most exclusive restaurants. No one around the table wore masks, not the lobbyists, not even the governor. [Sign up for California Today, our daily newsletter from the Golden State.] Photos that surfaced this week of a dinner […]
- Nolte: Washington Post Won’t Return Fake Pulitzer, ‘Stands By’ Russia Reporting
Both the far-left New York Times and Washington Post refuse to return Pulitzers for spreading the lie former President Trump colluded with Russia to win the 2016 presidential election. Would Hitler return a fake Pulitzer? Now that the Monday release of the Durham Report has debunked every facet of the Russia Collusion allegation and proved […]
- Donald Trump Shreds ‘Fake News Media’ in Series of Videos: ‘Not Reporting with Credibility Has Its Consequences’
Former President Donald Trump shredded the New York Times, the Washington Post, CNN, and MSNBC as “fake news media” in a series of videos shared to his Truth Social account and his campaign’s war room Twitter account on Wednesday. “The fake news media like CNN, MSDNC – which is sometimes referred to as MSNBC –the […]
- Media Ignore Physical Attack on Republican Gen. Don Bolduc
The establishment media have ignored the physical attack against Republican New Hampshire candidate Gen. Don Bolduc. The three top establishment newspapers, the New York Times, Washington Post, and Los Angeles Times, all failed to report the physical attack on Gen. Bolduc that occurred moments before Wednesday’s debate with Democrat Maggie Hassan (D-NH). The media’s decision […]
- Sex Offender Thanks Ketanji Brown Jackson for Three-Month Prison Sentence: ‘She Knew This Was Going to Hold Me Back … So She Didn’t Really Want to Add on to That’
The registered sex offender who was given three months in prison by Judge Ketanji Brown Jackson, nominated for the Supreme Court by President Joe Biden, is speaking out and seemingly thanking the judge for her lenient sentence in his case. In 2013, Jackson sentenced then-19-year-old Wesley Hawkins to three months in prison, three months of […]
- 15 Media Personalities Claimed Hunter’s Laptop Emails Were Likely Russian Propaganda Before New York Times Admitted
Fifteen establishment media personalities claimed Hunter Biden’s laptop emails were likely Russian propaganda before the New York Times admitted it Wednesday. After nearly two years of dismissing Hunter’s tantalizing emails uncovered before the 2020 presidential election, the Times admitted the laptop was authentic, in direct contradiction of many in the Democrat-allied media. The media personalities seemingly went […]
- Covington Teen Nicholas Sandmann Settles $275 Million Defamation Lawsuit with NBC
Covington Catholic High School student Nicholas Sandmann announced Friday that he settled a $275 million defamation lawsuit against NBC. Neither party publicized the terms of the settlement. However, Sandmann asked for $275 million in damages in his lawsuit against NBC Universal and MSNBC. “At this time I would like to release that NBC and I […]
- Washington Post Columnist Calls on CNN to Correct Its Dossier Reporting — After WaPo Corrects Its Own
A Washington Post columnist criticized CNN for not correcting its reporting that the dossier put together by Fusion GPS and ex-British spy Christopher Steele — which claimed the Trump campaign was colluding with Russia — was “corroborated.” The paper’s media critic, Erik Wemple, wrote Friday that CNN hosts and reporters had long-claimed the Steele dossier had […]
Two planes ‘likely collided’ at airport in Tokyo - CNNJune 10, 2023
San Francisco police: 9 victims hit but no deaths in Mission District mass shooting - ABC NewsJune 10, 2023
Colombia plane crash: Four children found alive in Amazon after 40 days - BBCJune 10, 2023
NY Lawmakers Pass Clean Slate Act, Sealing Some Criminal Records After 7 Years - The New York TimesJune 10, 2023
Chase: Grand theft auto suspect arrested after leading authorities on high-speed pursuit through LA - KABC-TVJune 10, 2023
We now know why Mike Pence had to testify in Trump investigation over Jan. 6 - The Washington PostJune 10, 2023
'Dr. Deep' resurfaces after a record 100 days living underwater in Florida - NBC NewsJune 10, 2023
Russia claims it blew up advanced Ukrainian tank, but video shows its helicopter attacked a tractor - New York PostJune 10, 2023
Four controversial doctors helping Republicans attack trans healthcare - The GuardianJune 10, 2023
DOJ Will Likely Try to Have Trump Incarcerated If He's Convicted in Mar-a-Lago Case - Business InsiderJune 10, 2023
Suit-clad Bryan Kohberger appears in court after Kaylee Goncalves' sister shares heartbreaking birthday tribute - New York PostJune 10, 2023
75-foot sinkhole forms on private property in Polk County, roads barricaded until further notice: Officials - FOX 13 TampaJune 10, 2023
Elon Musk says DOJ has 'far higher interest in pursuing Trump' than others - New York PostJune 10, 2023
A million good lucks: California family finds over 1m copper pennies - The Guardian USJune 10, 2023
Russia-Ukraine war: List of key events, day 472 - Al Jazeera EnglishJune 10, 2023