NEWS

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EIA reported another build in crude storage, that's eight out of nine week's in builds. Crude oil inventories grew +2291k bbls the government agency said. Gasoline grew, while Distillate drew last week. Cushing fell with -1229k bbls. US production hit another record high with 12.80 mbpd.

Natural gas futures ran up ahead of the EIA report of a less than expected build of +3 Bcf in natural gas storage last week. Ahead we focus on cold weather, LNG and Mexican exports and the winter outlook for the US.

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

Australia saw weakerr than expected full time jobs growth and part time jobs  in October, with Unemployment up to 5.3% and However the RBA preferred trend employment numbers were closer to expectations. Participation remains near highest since Dec of 2010.

US Consumer price inflation (CPI) for October was 0.4% higher than expected. YoY was 1.8% also more than expected. Gas prices surged 3.7% in October, though still fallen more than 7% in the past year. Bottom line is the Federal Reserve remains clueless about inflation and wages.

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