Will they or wont they Hike In September,this hangs over market. Fridays jobs will go a long way in tipping scales one way or another.As of this morning 38% chance of Fed hike
Month End flows.
OIl: Bullish news
Updated Monthly oil data from EIA,using New methodology shows oil production was lower than initially reported by 100k a day for first half of year.
China has been taking advantage of Lower oil to stock her SPR.It was reported earlier today that china bought a record 36 million barrels over the month of August
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OPEC on wires saying that dont want oil price to drop so far that cuts Development of new wells.Saudi Oil output for Aug. dropped 70k a day
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- OPEC willing to talk to partners about OIl price
- Run up in oil has shifted higher Fed hike probability to 40%
1:00 Weekend Fire in Alberta Canada puts synacrude out put at risk bullish for WTI due to cushing supply drop