 We're gonna oil in a nine minutes nine minutes. So 10 21 right now. We get inventory numbers for crude EIA 10 30 every Wednesday. We have the crew contract up here. We're looking at the August contract Quite a little pullback right at nine o'clock. Not sure what happened, but nine o'clock. We saw we're trained at 54 14 Traded down about 50 60 cents 53 50. We're sitting down there. You can see where we were though, man You say, you know, we talked about it quite a run yesterday, right from 6 a.m. You're trading at 51 87 And we made it up to 50 458 almost three dollars man to the upside. So oil's had some volatility for a while Let's jump in and see where we're at on some of these options. So we get into commodities We're going to crude and let's see where the 11 a.m. Is lined up. So the contract's trading 53 66 the quick Bummer right away as I know these are going to line up on the quarter as in 50 cents 75 So we're not going to have a price that's going to peg things even ideally 53 66 so 53 50 we could use for our 11 a.m. Would have a 17 cent head start to the upside Okay, right? It's a little bit of a bearish. Uh, excuse me bullish trade the bullish trade the one with all the intrinsic value Which is 16 to 17 cents of that And 29 it's going to cost you on the bullish one alone And then on the bearish one it's going to be much cheaper because you're about 17 ticks out of the money So they're going to 13 you're going to 42 bucks for the 11 a little bit more expensive than usual Yeah, it's because you're you're almost 20 you're almost 20 cents away from You know your price exposure on the bullish and the bearish now Let's just see if we can find one maybe with 53 75 because it would be about six ticks away as opposed noon Whoops. I'm clicking on the gold close that the noon for crude 53 50 going to be an identical trade. Let's just jump to the dailies with one extra hour, of course Okay, and we could have 54 if we wanted that'd be a little bit different if we wanted a little bit of bearish intrinsic value You'd have about 30 cents there And the same on the dailies. So let's just set up the noons if uh to compare to these 11s 53 50 There's our 11 a.m There's our noon now. What's interesting here is you know, let's just say you were looking for the trend to continue That we had yesterday in terms of that huge bullish run, right? Yeah Not a bad trade when you look at just this bullish side now You're getting into 53 82 Your loss has stopped at 53 50 For this risk reward, which is basically risking one to make four risk and 30 to make 120, right? It's 150 dollars in the total pie. You're risking 30 to make 120 and for that type of risk reward You're paying 10 cents over market Not bad. No not bad at all not not when you have oil coming in six minutes Now you're paying that for the 11s. And if you want to look what are they going to charge you they're going to charge you Uh 18 cents above market. We're now instead of risking 30 to make 20 You're risking 40 to make 110 you're risking one to make a little bit less than three right you're risking one to make 2.8 Right. Um, can we I don't mean to say I want to put that whisper number. Okay, so I want to put a bill Oh, no Put a bill of like 250,000 barrels even though they're looking for a draw down All right, we got 50 and saying 250. Yeah, perfect. Thank you. Okay Perfect. We're in there and how about gas gas a bill to a million eyes. Yeah With four seconds left we get a bit in good. Okay, and let's pull these over as we just to show what uh So there's the gas bill the whispered number They're looking for a build of somewhere between 800,000 and a million barrels for gas crude on the flip side Um, that's the one looking for Okay, do that. I forget what uh, we'll pull pull that up. I think that was the client. What did you do? Yeah, the survey number and the whisper number differ. Okay. That's right. They take the survey number off I think red is oh, no, sorry. There's there it is crude. Yeah, I was clicking on the cushion. Okay Um Yeah, so they're looking for a decline of between 800,000 and 1.2 All right, and last night the api was a drar of 642. I think Okay 642,000. Yeah, and let's just see what uh, they do some good commentary analysis ahead of this The what to watch for I like it. All right These crude builds are unrelenting. We've seen a pretty pretty steady rise in crude inventory since march surpassing the five-year average no slowdown in sight. So we'll see if that rise continues Gulf coast refinery runs are still being held back by outages mostly planned Seasonally rates are currently at the lowest levels in recent years, but still above the five-year average Those refineries man. They're a big story as we watch these every week Yeah, um our refineries coming fashionably late to their own party and uh, so pad five west coast stockpiles San francisco carbob has reached positive to level differentials And this this stuff gets a little technical Uh, so let's see gasoline demand almost reached the 10 million barrels for a day mark and the week ending june 7th Falling 123,000 short. So talking about demand there. All right, we'll see they get a lot there. We'll find out in three minutes Stay right there folks. Tommy and I come right back our phone number is 877-927-6648 We have the dow industrials right now trading up 36 naziak is down seven s&p's are off Three and a half. Tommy and I come right back We get a monster out here Gas prices going up at the moment. Holy cow crude oil inventories falling three plus million barrels 3.11 gas inventory is falling 1.69 million barrels checking over to the chart And there's your pop man. We didn't even take a peek. You know, it's going up when the when the it's that far off From consensus shouldn't say no better or something and we just got a 50 60 cent spike in the span of a heartbeat and we're going higher man. So what is the high that we had? Basically, you're looking at about 54 57. We're going to be there in about three seconds, man Quite a pop on that number that we just had and I mean the the cool thing here is that these trades We were taking a look at they had that bullish head start and that's I you know It's nice that and you know right now the 11 man You could close that out for uh and get 80 bucks off the top and you were putting up 30 bucks, right? So you're the 50 50 profit you're talking about 160 profit and you closed out in a split second Um, just if you were going the bullish side alone, um, not bad and it like we said not stopping man That is quite a run. Let's see if they break down. They still don't have the full breakdown We'll check back. But man oil is going to rock and roll. Let's see that That did anything to the market in general So you got uh, you know, let me pull it but it hasn't hit the s&p. That's screens a little funky. There we go We'll pull up the x l e. Let's see if that moved I even guess that might move a little. Yeah, it should. Yeah There we go. Yeah, you got 27 cents It's in juice yesterday. Yeah, so we did 17 million take out the swing here of nine Yeah, the thing wants to go up to his gap. So the closing the gap is what 63 31 here at 62 63 Take a look at x on Oh Yeah, up six cents. That's Still weak. It's pretty amazing Chevron Chevron strong seven is definitely stronger. Yeah 123 42. Well, there we go, man Not stopping pretty remarkable. So this five minute bar. We're looking at 53 67 80 cent bar right now and climbing and uh, like I said, we're now about 10 pennies away from that high and That's a decent high that we put in yesterday. Well, it better be able to hit that high So that'd be interesting here. Let's let's go take a look at that because when you get a build that that's big, you know Now this is delayed. Yeah. So let's see yesterday was 54 31 we're definitely over that right. I think I believe so the sweet spike high is 54 84 I just want to make sure we're looking at the same contract. We're not. Yeah See we're looking at august here and we get the june up here. This is just so c l You know, that's september. Let's just try maybe if you just go active at my car. Yeah, the act is still the end. I think yeah Yeah, yeah, yeah, we can pull it up Yeah the c l I don't know what august is well September is not gonna help That's all right 53 81 I just wanted to pull up. I think they will probably have that full breakdown of everything going on Oh, where's that? There it is Okay, so we have the crude decline of 3.1 million barrels gasoline quite a miss as well decline of 1.6 The estimate had been a rise of a million Distalates decline of 500 rise of 800 was the expectation Check out the pad 3 crude man minus 5.8 I think it might have been last week where the the entire value of everything was kind of a pad 3 builder draw I forget Refinery utilization up 0.7 the estimate was 0.3 So maybe coming back online a little more than they'd expected And then they have crude inputs up 200,000 barrels a day Crude imports down for 144,000 barrels a day and production down 100,000 as well Well, this is the monster numbers when you started talking about in the day, right? You're up 100,000 day. You're down 100,000 a day when you think about The amount of cards on the road man, you know, as in you drive to work every single car is plowing through gas Right, it's just staggering the amount of oil we use. Oh, it is it is, you know I remember when they were putting like a 7-eleven on every single corner and you know, it turns from gas stations to You know Stations you could buy everything at yeah, and that that just hasn't stopped No, you know, I mean that just keeps getting bigger and bigger and bigger I mean tesla's tesla's doing their best to stop it But not not yet and as you said so we made it to 54 50 But that high was 54 57 54 56. Let's see where it is 54 58. It looks like was the actual high So we'll we'll see this might not be done climbing higher though. Exactly Welcome back folks. I doubt does it 48 nazik down six s&p's are four Mike it's just laying there man. It sure is speaking of just laying there checking back on oil Just got a laying up there right to where we shot up in that first five minute bar hanging at 53. Excuse me 54 37 Um, and again, we shot up from about 53 67. So you're talking about 70 cents Yeah shot up and I don't think it's made it to that spike high from my swing Well, I even it hasn't made it from the spike high just as in uh last night even from what we're uh, that's the one we kept looking at Um 54 58 as of about 8 p.m. Last night it got up to and that's after that huge run yesterday So it uh, it was within about eight pennies, but not quite yet and we'll see what happens