NEWS

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EIA reported a huge crude oil storage Draw -9589k bbls. Gasoline drew -4587k bbls with a draw of 4127k bbls in distillates.The shale revolution continues,  with production up 100k to the record high of 12.10 mbpd. 

The monthly Reuters Tankan survey indicates Japanese manufacturer's sentiment falling the lowest since October 2016 in March with the sentiment index at +10 from February's +13. This was the fifth consecutive monthly fall for the sentiment index. 

FedEx Corp reported after the close Tuesday missing expectations on tax benefits and with costs and wage rises. $FDX also lowered guidance giving us insight into the slowing international global trade growth trends and threats from online retail giant $AMZN and rivals $UPS and DHL.

U.S. oil rigs in service fell 1 this week as U.S.oil production came off the all time high to 12.00 million bpd. US Natural gas rigs were unchanged. Oil rigs fell another 20 in Canada and Canadian natural gas rigs fell 8 with the freezing weather.

Software solutions provider Adobe Systems reported better than expected earnings first quarter earnings on Thursday with a marked increase in revenues. However ADBE guided lower than expected for next quarter disappointing investors.

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