NEWS

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The Federal Reserve Bank of New York August 2019 Survey of Consumer Expectations showed inflation expectations in August fell 0.2% to 2.4%. This is the lowest since the series began in 2013. The three-year survey fell to 2.5% from 2.6%.

Natural gas prices at the Waha hub in the Permian basin in West Texas rose along with Henry Hub futures prices. The move comes ahead of the new Gulf Coast Express pipeline start-up Spot natural gas prices have risen to their highest price since March.

The U.S took 4 oil rigs out of service as U.S.oil production remained just off a new high at 2400kbpd. US took down 2 Natural Gas rigs as Canadian natural gas rigs were unchanged, oil rigs fell 3

The US Labor Department August jobs report on Friday came in lower than expected at 130k v 165,000 NFP jobs added. In August the US added 3,000 manufacturing jobs . Unemployment stayed at 3.7% just off the lowest since December 1969. Private payrolls added 96,000 new jobs.

Oil rallied into the report as money flowed back into risk assets with hope on China and the UK.  EIA reported Crude oil inventories drew -4771k bbls with Gasoline and Distillates draws last week. Cushing a small draw of -230k bbls. US production just off thenew record high with 12.40 mbpd.

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