Category: Uncategorized

 Weekly Petroleum Data for the week ending September 12, 2025

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.3 million barrels from the previous week. At 415.4 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending September 12, 2025, which was 394 thousand barrels per day less than the previous week’s average. Refineries operated at 93.3% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased by 274 thousand barrels per day last week, averaging 5 million barrels per day. U.S. crude oil imports averaged 5.7 million barrels per day last week, decreased by 579 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 2.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 569 thousand barrels per day, and distillate fuel imports averaged 95 thousand barrels per day.At 415.4 million barrels, Total motor gasoline inventories decreased by 2.3 barrels from last week and are 1% below the five year average for this time of year. Both finished gasoline inventories and blending components inventories
decreased last week. Distillate fuel inventories increased by 4 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventoriesincreased by 1.3 million barrels from last week and are 12% above the five year average for this
time of year. Total commercial petroleum inventories increased by 1.2 million barrels last week. Total products supplied over the last four-week period averaged 20.7 million barrels a day, up by 1.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, up by 0.5% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 1.8% from the same period last year. Jet fuel product supplied was up 1.1% compared with the same
four-week period last year

NN: The market was predicting a sharp increase in demand and inventories building. Instead we got a big drop in inventories,

The price of silver fell 2.5% on Wednesday, retreating from an all-time high in euros at the beginning of the month. At the same time, the demand for safe-haven assets seems to have lessened as investors widely expected the United States Federal Reserve to deliver its first rate cut in 2025. At 6:16 am ET, silver contracted 2.7% to exchange for $41.42 per ounce. At the same time, gold ceded 0.63% and changed hands for $3,666.28 per ounce. Two minutes later, platinum lost 1.13% and sold for $1,384.19 per ounce, while palladium decreased 2% to sell for $1,140.63 per ounce.

NN: i can’t wait to short precious metals

United Nations Secretary-General Antonio Guterres said on Tuesday he sees little chance for quick progress in ending the war in Ukraine, citing incompatible positions between Kiev and Moscow. Speaking at a press conference ahead of the 80th Session of the United Nations General Assembly in New York, he warned that prospects for peace remain uncertain. “I am not optimistic about the short-term progress in the peace process in Ukraine. The positions of both sides are now largely incompatible,” Guterres said. He stressed that “Ukraine has a legitimate interest to preserve its territorial integrity, and it’s clear that Russia is determined to do something that would mean the occupation of large parts of Ukraine. “Looking ahead to the UNGA, Guterres also noted he would welcome a meeting with US President Donald Trump, adding that Washington’s ability to use both “carrots and sticks” could complement UN efforts in peace mediation.

NN: their will be no peace  deal. Why world  Putin fold a winning hand. If talking were bombs NATO and Ukraine would be winning… and they are not.

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued new Iran-related sanctions on Tuesday, according to a statement on its website. Among the sanctioned are four individuals and 12 entities. Apart from Iranian nationals and businesses, some entities in Hong Kong, the United Arab Emirates, and China were also targeted with the latest move. Additionally, US Secretary of State Marco Rubio warned yesterday that a potential “nuclear Iran governed by a radical cleric … is an unacceptable risk.”

NN: If they really want to stop them they will  have to bomb them

Oil rose, extending a gain from last week, as traders weighed moves to crack down on Russian flows against forecasts for a surplus later in the year. Ukraine is ramping up its attacks on Russia’s oil infrastructure, with drones striking the Kinef refinery, one of the nation’s largest, over the weekend. The strike comes days after an attack on the key Baltic export port of Primorsk. US President Donald Trump also reiterated calls that Europe must stop buying oil from Russia, after earlier saying he’s prepared to move ahead with “major” sanctions on crude supply from the OPEC+ member if NATO countries do the same. US Treasury Secretary Scott Bessent later commented that the US wouldn’t follow through with threats to penalize Russian oil unless Europe also does so. Oil has traded in a range of about $5 a barrel since early August, with prices buffeted by the competing forces of geopolitical risks and bearish fundamentals, which led hedge funds to cut their bullish position on US crude to the lowest on record. OPEC+ has started to bring back a new tranche of oil production ahead of schedule — leading the International Energy Agency to project a record surplus next year. The latest Ukrainian drone attacks “reinforced price support above $61,” said Razan Hilal, market analyst at Forex.com. “While this has kept the bullish narrative intact, the chart does not yet confirm a clean uptrend, as demand risks and trade instability weigh on sentiment — especially as OPEC’s recent supply cut unwinds reflect slowdown.” Traders are now looking ahead to a high-stakes US central bank meeting, where the Federal Reserve is largely expected to resume its interest-rate cutting cycle. A rate cut could spur economic activity and boost oil demand, though market participants are split on the extent of the possible support. The prices of oil futures went u[ as Russian oil companies signal a potential output cut. According to Reuters, Russia’s Transneft warned producers about a possible reduction in oil supplies, amid intensified attacks on Russian energy infrastructure. On the other hand, United States President Donald Trump called on Europe again to stop purchasing oil from Russia. The West Texas Intermediate (WTI) for October deliveries went up  going for $64.16 per barrel. At the same time, Brent for November is selling at $68.12 a barrel.

Israeli forces began a ground offensive in Gaza City, two Israeli officials told CNN on Tuesday. The report comes after the country’s Prime Minister Benjamin Netanyahu vowed to occupy the war-torn enclave’s largest city. According to the unnamed sources, Israeli armed forces launched a ground operation on the outskirts of Gaza City following intense bombardment during the previous days. The Israeli cabinet approved the offensive last month, despite warnings from other countries and the United Nations. The United States stated that there was little time left to reach a ceasefire deal, adding that the start of the Israeli offensive would make further talks impossible.

NN: Getting harder and harder to keep track of all the wars

Gold prices surged to a new all-time high on Monday, driven by a weaker US dollar and declining Treasury yields, which boosted demand for the commodity. Markets are preparing for a crucial Federal Reserve meeting this week, as policymakers are expected to announce the first interest rate reduction since December on Wednesday. Additionally, the US–China trade discussions in Madrid, initiated on Sunday, remain a key focus as global trade concerns continue to influence market sentiment. Gold rose 1.03% at 11:59 am ET to go for $3,681.36 per ounce. Silver gained 0.99%, going for $42.62. Platinum lost 0.32% to sell for $1,403.03 per ounce a minute later and palladium dipped by 1.92% at the same time, going for $1,169.39 per ounce.

NN: Gold fever.. cant wait until its time to short the shit of this insanity

Israel’s Defense Ministry Director-General Amir Baram warned on Monday that future clashes with Iran are inevitable despite what he described as Israel’s “victory” in the June confrontations. “[It] ended in a clear Israeli victory, but there will be additional rounds against Iran,” he noted. Speaking at a Finance Ministry conference, Baram said Tehran remains humiliated and is pouring resources into defense and force-building, making further confrontations likely. Baram explained that the ministry works on “three time horizons”: immediate procurement, readiness for the next decade, and long-term development of advanced systems. Despite some canceled contracts, Baram revealed that Israel signed $2.5 billion in new defense export deals last week, adding that many governments continue to prioritize long-term military investment amid global instability.