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The EIA reported a draw of -204 Bcf in natural gas storage last week, as expected as temperatures stayed low after the extreme polar vortex cold. Ahead we focus on LNG and Mexican exports.

The OPEC Monthly Oil Market Report (MOMR) for March 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.

EIA reported crude oil storage Draw -3862k bbls when a +2900k bbls build was expected last week. Gasoline drew -4624k bbls with a build of 383kbbls in distillates.The shale revolution continues,  but production dropping 100k off record high to 12.00 mbpd. 

US Consumer price inflation (CPI) for  February was 0.2% as expected. YoY was 1.5% less than expected. However real average hourly earnings rose 1.9% higher than the previous month. Bottom line is the Federal Reserve remains as clueless about inflation and wages as before.

China released February inflation reports with the consumer price index (CPI), which rose by 1.5 percent year on year as expected but under the CPI target for 2019 of 3 percent. The Producer price index (PPI)rose 0.1 percent y/y under the expected 0.2 percent.

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