Список проголосовавших за комментарий " Morning Commodities: Crude rallies off of session lows after EIA reported a larger-than-expected draw in gasoline inventories; gold continues its 7-day slide to a 5-week low on a continuation rally in the dollar index following jobs data<ul><li><strong>Crude rallied off of session lows after EIA reported a larger-than-expected draw in gasoline inventories; crude still on track to extend yesterday's losses</strong><ul><li>After the EIA release, April crude oil futures were down about $0.46 (-0.9%) around the $52.72/barrel level.</li><li>Ahead of the EIA release, crude oil futures were down about $0.72 (-1.4%) around the $52.43/barrel level</li><li>EIA petroleum data highlights:<ul><li>Crude oil inventories had a build of +8.2 mln barrels (consensus called for a build of about +1.967 mln barrels).</li><li>Gasoline inventories had a draw of -6.6 mln barrels (consensus called for a draw of -1.400 mln barrels).</li><li>Distillate inventories had a draw of -2.7 mln barrels.</li></ul></li><li><span style="text-decoration:underline;">Other contributing factors affecting the price of oil:</span><ul><li>Yesterday after the close, API reported a build of 11.6 mln barrels in US crude, vs expectations for a 1.4-1.66-mln barrel build. The build in crude oil inventories was almost 10 times greater than Consensus & marks yet another new all-time high for US crude inventories. According to API data, 35 mln barrels of crude have been added since the beginning of 2017.</li><li>Yesterday afternoon, the OPEC Secretary General Barkindo discussed it is still too early to talk about extending the production cut agreement, this stance was also reiterated by the Saudi minister in a presentation at Ceraweek, taking place from Mar 6-10. <em> — see yesterday's comments under USO for Ceraweek coverage.</em></li><li>Yesterday morning, The EIA reported they now expect U.S. crude production in 2017 to rise by 330k barrels per day, more than previously forecast.</li><li>Lastly, yet another contributing factor pressuring crude to the downside this morning is continued strength in the dollar index.</li></ul></li></ul></li><li><strong>In precious metals, gold continued its 7-day slide to a fresh 5-week low on a continuation rally in the dollar index following the release of the jobs report<br/> </strong><ul><li>April gold futures were down about $7.10 (-0.6%) around the $1209.00/oz level.</li><li>May silver futures were down about $0.22 (-1.3%) around the $17.32/oz level.</li><li>Reminder: U.S. ADP national employment report for Feb showed 298k jobs, vs market expectations for a rise of ~190k.</li></ul></li><li><strong>The dollar index was +0.2% around the 102.03 level, weighed on precious metals<br/> </strong><ul><li>Commodities, as measured by the Bloomberg Commodity Index, were -0.2% around the 86.15 level</li></ul></li><li><strong>Natural gas surged near Monday's 3-week high ahead of tomorrow's inventory data release</strong><ul><li>April natural gas futures were up about $0.08 (+3.0%) around the $2.91/MMBtu level</li><li>Contributing factors affecting the price of natural gas:<ul><li><strong>EIA natural gas data will be released tomorrow at 10:30 am ET.</strong></li><li>EIA data is expected to show a draw of about -59 bcf, compared to last week's build of +7 bcf.</li><li>Total natural gas in storage as of last week's data stands at 2.363 trillion cubic feet, according last week's EIA data. This figure is 7.3% lower than levels at this time a year ago and 12.5% above the 5-year avg for this time of year.</li><li>Weather forecasts for the next 8-15 days showed that rain, snow, & relatively cooler temps will track across the northern & eastern US, raising natural gas demand expectations.</li></ul></li></ul></li></ul>"