NEWS

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The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC said escalating trade conflict casts doubt on global outlook but Canada's economy is returning to growth around potential, as expected.

The US Labor Department June jobs report Friday added  224,000 NFP jobs much higher than expected 158,000 after adding just 71,000 NFP jobs last month. Unemployment rose to 3.7% just off the lowest since December 1969 as the Participation rate rose to 62.9% 

EIA reporting a larger than expected build of +89 Bcf in natural gas storage last week, Ahead we focus on LNG and Mexican exports.

Following OPEC EIA reported a draw in crude of -1085k bbls lower than what API reported. Cushing showed a builld of 652k bbls. US production rose after falling for three weeks in a row in the shale revolution 100k off the record high to 12.20 mbpd.

Following the OPEC meeting decision to hold to existing production cuts Morgan Stanley lowered its long-term Brent price forecast to $60 per barrel down from $65, with $65 the 3 quarter pivot point from $67.5 per barrel previously

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