Oil & Energy

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EIA reported for the second week in a row that crude oil inventories grew. +1058k bbls with Gasoline and Distillate builds last week. Cushing smaller draw of -647k bbls. US production just off new record high with 12.40 mbpd.

Natural gas futures lifted to key levesl at week's end as weather, LNG exports and a short market pressured offers. EIA reported as expected lower than expected build of +84 Bcf in natural gas storage last week. Ahead we focus on LNG and Mexican exports and the winter outlook for the US.

Oil had its largest percentage move since 1991 after the Saudi attack and fell sharply after Aramaco restored 70% production  EIA reported Crude oil inventories grew +1058k bbls with  Gasoline and Distillate builds last week. Cushing a smaller draw of -647k bbls. US production just off the new record high with 12.40 mbpd.

Houthi rebels from Yemen launched successful drone attacks on the world's biggest petroleum processing facility in Saudi Arabia Saturday. Reuters reports that up to 5 mbpd of production has been impacted, half of Saudi Arabia's output. Fires reportedly under control but damages unclear.

The U.S took 5 oil rigs out of service as U.S.oil production remained just off a new high at 2400kbpd. US took down 7 Natural Gas rigs as Canadian natural gas rigs were 4 lower, oil rigs fell 9

Natural gas futures lifted to key levesl at week's end as weather, LNG exports and a short market pressured offers. EIA reported as expected lower than expected build of +78 Bcf in natural gas storage last week. Ahead we focus on LNG and Mexican exports and the winter outlook for the US.

Oil rallied into the report as money flowed back into risk assets with hope on China and the UK.  EIA reported Crude oil inventories drew -6912k bbls with a Gasoline draw and Distillate build last week. Cushing a smaller than expected draw of -798k bbls. US production just off the new record high with 12.40 mbpd.

The OPEC Monthly Oil Market Report (MOMR) for September 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 prices at the Waha hub in the Permian basin in West Texas rose along with Henry Hub futures prices. The move comes ahead of the new Gulf Coast Express pipeline start-up Spot natural gas prices have risen to their highest price since March.

The U.S took 4 oil rigs out of service as U.S.oil production remained just off a new high at 2400kbpd. US took down 2 Natural Gas rigs as Canadian natural gas rigs were unchanged, oil rigs fell 3

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