NEWS

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Morgan Stanley report second quarter earnings before the bell Thursday. $MS followed the other major banks; Bank of America $BAC JPMorgan Chase $JPM, Wells Fargo $WFC, PNC Financial $PNC Goldman Sachs and Citigroup $C reporting

Ahead of Hurricane Barry the U.S. took off 4 oil rigs to service, with 11 off in the Permian and Eagle Ford Basins. U.S.oil production rose to be just 100k off it's all time high at 12.30 million bpd. US Natural gas rigs fell 2. Canadian natural gas fell 8 and oil rigs rose 5

With Hurricane Barry in focus EIA reporting a larger than expected build of +81 Bcf in natural gas storage last week, Ahead we focus on LNG and Mexican exports. LNG Exports hit a new high this week as hub Futures climbed 10% off the low.

The OPEC Monthly Oil Market Report (MOMR) for July released Thursday provides OPEC's outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.

The EIA reported a huge draw in crude of -9499k bbls higher than the -8129k API reported. Cushing showed a smaller draw of -310k bbls. US production rose again in the shale revolution now just 100k off the record high to 12.30 mbpd.

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