Oil & Energy

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The U.S took 21 oil rigs out of service as U.S.oil production continues to fall to 11500kbpd. US Natural Gas rigs were unchanged. Canadian natural gas rigs were 3 lower, oil rigs rose 1

Natural gas futures were lower after an expected build of +81 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported the first draw in crude since January, highlighted by a 5587mbbl draw at at Cushing. Large builds in distillate sand gasoline..US production fell again to 11, 500 mbpd, off record high of 13.10 mbpd. Futures are elevated from a short squeeze, production cuts and demand pickups but inventories still outstrips demand since the Coronavirus.

Natural gas futures were higher on a bigger than expected build of +103 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported the first draw in crude since January, highlighted by a 3,000mbbl draw at at Cushing. A large build in distillate storage again with similar draw in gasoline.. US production finally fell to 11, 600 mbpd, off record high of 13.10 mbpd. Still oil production and inventories far outstrips demand since the Coronavirus.

The OPEC Monthly Oil Market Report (MOMR) for May released Wednesday 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.

Natural gas futures were higher on a bigger than expected build of +109 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported a large builds in crude, but lower than expected in particular at Cushing. Huge buid in distillate storage again with a draw in gasoline.. US production finally fell to 11, 900 mbpd, off record high of 13.10 mbpd. Still oil production and inventories far outstrips demand since the Coronavirus.

Natural gas futures were higher on a smaller than expected build of +70 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported large builds in crude and distillate storage. US production finally fell to 12.100 mbpd, off record high of 13.10 mbpd.Crude prices continue to fall despite OPEC+ cuts. Still oil production and inventories far outstrip demand since the Coronavirus.

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