U.S. Rig Count is down 5 rigs from last week to 279, Canada Rig Count is unchanged from last week at 21

Brent fell 3.4%, or $1.42, to $40.31 a barrel, WTI dropped 4%, or $1.60, to $38 a barrel,

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.7 million barrels from the previous week. At 538.1 million barrels, U.S. crude oil inventories are about 14% above the five year average for this time of year.

The imbalance is forecast to reach 4.6 million bpd in July, 4.2 million bpd in August

A decisive close below 36.25$/barrel will prompt a seemingly BEARISH move towards the low price 30$/barrel range and a maximum test at 29.00$/barrel support zone.

the Committee decided to maintain the target range for the federal funds rate at 0 to 1/4 percent.

Japan’s Nikkei slid 2.1% in its largest daily loss in five weeks, while Chinese blue chips eased 1.0%.

Brent fell 70 cents, or 1.7%, to $40.48 a barrel, WTI dropped 98 cents, or 2.5%, to $37.96.

monthly Brent prices will average $37/b during the second half of 2020 and rise to an average of $48/b in 2021.

The Executive Board of the International Monetary Fund (IMF) approved today an 18-month Stand-by Arrangement for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion or 179 percent of quota).

Since the start of the year, renewable energy has accounted for 30% of the UK’s electricity, fossil fuels for 35% and nuclear for 18%.

Brent was down 52 cents, or 1.3%, at $40.28 a barrel, WTI fell 27 cents, or 0.7%, to $37.92.

U.S. gross domestic product fell at a 4.8% annualized rate in the first three months of the year. The outcome for the April to June period is expected to show an even worse annualized decline of perhaps 20% or more. The unemployment rate rose from a record low of 3.5% in February, hitting 14.7% in April and 13.3% last month.

The pound hit a new three-month high of $1.2757 in overnight trading, before falling to as low as $1.2620 in early London trading. It was at $1.2653 at 1210 GMT, down 0.6% on the day.

Global LNG trade in 2019 amounted to 354.73 million mt, which was an increase of 13% from 2018 and the sixth year of consecutive growth,