NEWS

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Natural gas futures collaped under $2 ahead of the EIA report, last week we saw a bigger than expected draw of  - 201 Bcf in natural gas storage. Ahead we focus on cold weather, LNG and Mexican exports and the winter outlook for the US.

Crude oil futures accelerated lower on Coronavirus fears ahead of EIA reporting a build in crude storage and gasoline with a draw in distillate. The EIA said Crude oil inventories had a build of 3548k bbls. Cushing rose +758k bbls. US production record high of 13.00 mbpd.

Private payroll company ADP reports that US jobs grew 291,000 in January, the highest since 2015. The US Labor Department will report It's jobs report on Friday. In December they reported a lower than expected 145k v 160k non farm payroll additions after the US lost 12,000 manufacturing jobs. 

The Reserve Bank of Australia held interest rates in February at a historic low of  0.75 per cent. RBA said given long lags in monetary policy, decided to hold steady

Chevron reported fourth quarter results Friday along with fellow oil major ExxonMobil. $CVX announced loss in the fourth quarter of 2019 from a profit last year. from upstream impairments and write-offs on Appalachia shale, Kitimat LNG, Big Foot, and other projects.

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