The number of drilled but uncompleted wells in seven key oil and natural gas production regions in the United States has increased over the last two years, reaching a high of 8,504 wells in February 2019,

Total nonfarm payroll employment increased by 263,000 in April, and the unemployment rate declined to 3.6 percent, the U.S. Bureau of Labor Statistics reported

Kazatomprom's uranium production for the first quarter of 2019 was 4% down from the same period in 2018 as the Kazakh company continues with its plan to reduce production. Meanwhile, US uranium production for the quarter was 74% down from 2018.

BHGE - U.S. Rig Count is down 1 rig from last week to 990, with oil rigs up 2 to 807, gas rigs down 3 to 183, and miscellaneous rigs unchanged at 0. Canada Rig Count is down 2 rigs from last week to 61, with oil rigs down 2 to 17 and gas rigs unchanged at 44.

Russia is meeting its obligations under the OPEC/non-OPEC crude production agreement, and participants remain committed to the arrangement, despite ongoing uncertainty over world energy market developments.

Operators of Belarus, Ukrainian, Hungarian and Slovakian sections of troubled Druzhba network have agreed on technical measures to clean contaminated oil from part of the system and expect normal quality oil from Russia to start entering Belarus and Urkaine in the coming days, Ukrainian pipeline operator Ukrtransnafta said Tuesday.

The EU has long worked to diversify from relying on Russia for almost 40 percent of its gas needs by developing LNG infrastructure to access other suppliers. Qatar and Australia are other major LNG suppliers.

Nord Stream 2 is already waiting for the DEA to decide on permit applications for two different routes, and claims the request for a third route option is illegal.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

Poland, Germany, Ukraine and some other countries suspended imports of Russian oil via the Druzhba pipeline this week due to the contamination. Russia said it plans to restore the pipeline to Europe to stability in two weeks.