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
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
- 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