Cushing Crude Oil Storage Report
PREMIER SOURCE OF CUSHING CRUDE OIL STORAGE ANALYTICS
Delivering actionable insight on crude stocks at Cushing storage hub, using a combination of the highest resolution optical data and specifically developed AI algorithms. A unique insight into crude inventories and reserves, tailored to meet the needs of traders and analysts.
Cushing Tank by Tank Data
The report provides the most frequent per tank per operator Cushing oil inventory and is first to market with daily change in WTI stocks. The Cushing, Oklahoma oil storage site is monitored on a continuous basis enabling detailed measurement and highly accurate insight into possible changes in supply and demand.
Oil storage tanks at Cushing, Oklahoma.
Visualisation of crude storage volumes, Cushing.
Oil traders and analysts are able to use this valuable intelligence of the Cushing storage hub to make improved, more agile WTI trading decisions.
A variety of trading strategies can be employed from high frequency, front month trading to complex multi-strategy trades using a range of options.
TankWatch Cushing Features
- Highest accuracy in comparison to the EIA figures
- Measurements delivered within 24 hours of data capture
- Data reports delivered four times a week
- More than 12-months historic back-test data
- Flexible contract terms and competitive pricing
- Custom delivery of data including API
- Proprietary measurement options available
RGB and thermal imagery of storage tanks at Cushing.
Oil storage tanks at Cushing, Oklahoma.
TankWatch Cushing Benefits
- Monitor storage levels at trader’s purchased/leased assets
- Build an event-driven WTI futures strategy and extend this to other securities which correlate to crude futures
- Option for custom selected terminal locations
- Understand the impact of government sanctions, policy, economic impacts and supply/demand stocks
- Trade cash arbitrage opportunities which may exist
Related INSIGHTS
Contango at Christmas – will the new year bring a little seasonal cheer
The long wind-down in timespreads at Cushing continued over the last few weeks with the January contract slipping into a shallow contango upon expiry earlier this week. That is reflective of the change in physical storage needs in the hub, inventories there having built a solid 7 million barrels since bottoming out in early November. In the last few weeks, several factors pulled in the same direction to help replenish Cushing levels, including the ramp-up of new midstream crude infrastructure bringing in additional volumes from Canada to the US Gulf, significant SPR releases in PADD-3, somewhat weak crude runs in PADD-2 (until recently), and even rising US onshore crude production.
Stocks at Cushing continue to rise amongst WTI sell-off
Prompt WTI timespreads, as in every corner of the market, took a pummelling late last week amid the huge sell-off in crude brought on by the emergence of the new coronavirus variant. While the plummet in flat price and structure was triggered by fears that the Omicron variant would drag on global oil demand, the move was exacerbated by low liquidity on the long weekend, selling pressures from hedging activity and the triggering of sell signals, and initially high speculative net length.
Cushing storage dynamics remain important as releases from SPR hit the crude
Prompt WTI timespreads went on another rollercoaster ride in the run up to the latest weekly EIA release, with initial bullish input coming from API data that showed another draw on total US crude inventories. Dec/Jan ultimately pulled back from price levels approaching an exceptionally high $1.70/bbl as the market closed on Tuesday 9th, after the API release.