Oil & Energy

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Energy storage still distorted from Hurricanes and Covid hit demand. EIA reported a build in crude oil of +501kbbl, a build of of  +470 kbbl at Cushing.  Draw in gasoline -1435kbbl. US production was up 300 kpd at 11,000 mbpd, off record high of 13.10 mbpd. 

Natural gas futures rose after a near expected build of +76 Bcf in gas storage last week as demand destruction continued with Laura, Beta and Cameron closures. Large movements on the spreads.  The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

Energy storage still distorted from Hurricane Laura. EIA reported a draw in crude oil of -1639kbbl, a build of of  just +4kbbl at Cushing.  Draw in gasoline -4025kbbl. US production was at 10,700 mbpd, off record high of 13.10 mbpd. 

Natural gas futures rose after a smaller than expected build of +66 Bcf in gas storage last week as demand destruction continued with Laura, Beta and Cameron closures. Large movements on the spreads.  The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

Energy storage still distorted from Hurricane Laura. EIA reported a draw in crude oil of -1639kbbl, a build of of  just +4kbbl at Cushing.  Draw in gasoline -4025kbbl. US production was at 10,700 mbpd, off record high of 13.10 mbpd. 

Natural gas futures fell after a larger than expected build of +89 Bcf in gas storage last week as weather changes were felt.  The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

Energy storage still distorted from Hurricane Laura. EIA reported a draw in crude oil of -4389kbbl, a draw of of  -74kbbl at Cushing.  Draw in gasoline -381kbbl. US production was at 10,900 mbpd, off record high of 13.10 mbpd. 

The OPEC Monthly Oil Market Report (MOMR) for September released Monday 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.

Energy storage still distorted from Hurricane Laura. EIA reported a build in crude oil of +2003kbbl, a build of of  +1838kbbl at Cushing.  Draw in gasoline -2954kbbl. US production was at 10,000 mbpd, off record high of 13.10 mbpd. 

Natural gas futures drifted after a larger than expected build of +70 Bcf in gas storage last week as weather changes were felt.  The  focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.

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