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EIA reported a build in Gasoline for the first time in 11 weeks crude oil storage built 9934k bbls. Gasoline had a build of 917k bbls with a draw of -662k bbls in distillates last week. The shale revolution continues BUT production back up 100k to record high of 12.30 mbpd.

Transocean, the world’s largest offshore drilling contractor and leading provider of drilling management services reported better than expected first quarter results Monday with a smaller than expected loss and more revenue.

Internet giant Alphabet, owner of Google reported worse than expected first quarter earnings after the market Monday. $GOOGL stock fell over 7% on the release. Q1 included a $1.7 billion (€1.5 billion) fine from the European Commission over anticompetitive advertising. 

U.S. oil rigs in service fell 20 this week with U.S.oil production back at the all time high of 12.20 million bpd. US Natural gas rigs fell 1. Oil rigs were unchanged in Canada and Canadian natural gas rigs fell 3 with the freezing weather.

Real gross domestic product (GDP) increased 3.2% in the first quarter of 2019, according to the “advance” estimate released by the Bureau of Economic Analysis. Core PCE +1.3% vs +1.4% expected

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