NEWS

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EIA reported a lower than expected build of +49 Bcf in natural gas storage last week, Ahead we focus on LNG and Mexican exports and the hot weather expected in Texas.

Crude oil inventories grew two weeks in a row the EIA reported +1580k bbls with Gasoline drawing -1412k Bls. Cushing showed a draw of -1504k bbls. US production rose again on the Barry shutdowns returning 100k to 12.30 mbpd  off the record high of 12.40 mbpd.

US MBA mortgage applications for the week ending 9 August jumped 21.7% up from a rise of 5.3% the prior week. With mortgage rates back to a three year low refinancing activity surged to a three year high fueling the activity.

The German economy is faltering as we have seen with PMI and sentiment. Brexit and trade wars helped Germany Q2 preliminary GDP come in negative as expected triggering further selling in the German DAX and world stockmarkets already down after a big miss in Chinese growth.

Canadian marijuana producer Tilray reported mixed second-quarterearnings aftet the close Tuesday. Revenue beat expectations but losses were larger than expected with huigher costs and lower average selling prices. $TLRY slid over 5% on the report.

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