Oil & Energy

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Natural gas futures waddled after near expected build of +26 Bcf in natural gas storage last week. The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

EIA reported a larger than expected draw in crude oil of -10612kbbl, a build of +1309 kbbl at Cushing.with builds in gasoline +654kbbl. and distillates +503kbbl. US production unchanged 11,100 mbpd, off record high of 13.10 mbpd. Futures are reacting to risk off and lockdown demand.

Natural gas futures were higher after near expected build of +37 Bcf in natural gas storage last week. The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

EIA reported a build in Crude of  4892-kbbl, a build of +1375 kbbl at Cushing.and a draw in gasoline of -1802kbbl. US production rose 100 kpd to 11,100 mbpd, off record high of 13.10 mbpd. Futures are reacting to risk off and production cut moves.

The U.S took off 1 oil rig out of service to a new low 180 as U.S.oil production stayed at 11100kbpd. US Natural Gas rigs fell 4 to 75. Canadian oil rigs fell 1, natural gas rigs fell 3.

Natural gas futures were higher after lower than expected build of +45 Bcf in natural gas storage last week. The  focus is on warm weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

EIA reported a deficit in Crude of  7493-kbbl, a build of +949kbbl at Cushing.and  a large draw in gasoline of -3147kbbl. US production unchanged at 11,000 mbpd, off record high of 13.10 mbpd. Futures are reacting to risk off and production cut moves.

Natural gas futures were higher after lower than expected build of +56 Bcf in natural gas storage last week. The  focus is on warm weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

EIA reported a build in Crude of  +5664kbbl, a build of +2206kbbl at Cushing.but a large draw in gasoline of -4839kbbl. US production unchanged at 11,000 mbpd, off record high of 13.10 mbpd. Futures are reacting to  risk off and production cut moves.

Natural gas futures were higher after lower than expected build of +65 Bcf in natural gas storage last week. The  focus is on warm weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

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