NEWS

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Crude oil futures continue to collapse in the face of the oil price war  and Coronavirus fears crushing demand.. EIA reported a build in crude storage and smaller draws in gasoline and distillate. US production came slightky off the record high of 13.10 mbpd.

Natural gas futures rose after a higher than expected draw of  -29 Bcf in natural gas storage. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

The Bank of Canada cut its key lending rate to 0.25 percent on Friday in an unexpected move. This is the third 50bp cut in just 2 weeks in response to Coronavirus panic. BOC also launched first QE and a commercial paper program.

Rating agency reaffimred the United States of America at 'AAA'with Outlook Stable Thirsday. However warns high fiscal deficits and debt which were already rising even before coronavirus are starting to erode these credit strengths.

Natural gas futures were after higher than expected draw of  -29 Bcf in natural gas storage. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

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