Market Update

Energies are mixed with RB and Brent higher but ULSD and WTI lower.

WTI has been mostly lower overnight due to concern that a US China trade deal will not be ready for signing when the leaders meet next month at a summit in Chile. (Reuters) Also hurting crude oil was the API data - news wires are pointing to the rise in Cushing crude as a negative ---and news reports are differing as to the crude oil draw seen in the API data.

Saudi Aramco is said to be set to launch their long awaited IPO Nov 3--with trading in shares set for early December on the Saudi stock market.(WSJ)

A key southern Iraqi port is shut due to protests --the port is a hub for commodities which are needed to feed the population --the Reuters article featured no mention of any issues regarding oil shipments- as yet.

WSJ yesterday featured an article detailing the fact that shale producers are dialing back output to free up cash to pay back debt, buy back shares and pay investors.

API                 Forecast                     Actual

Crude oil         +0,7/+2,5                   -0,708

Gasoline          -2,1/-2,5                     -4,7

Distillate          -2,4                            -1,61

Cushing           +1,5                           +1,2

Runs                +0,5                          n/av

Technically WTI & ULSD have negative momentum    --with RB momentum getting overbought.

RB looks positive though in its price action with Dec resistance seen at 16597 then 16750-64. Support lies at

16381-91 then 16259-62.

Dec ULSD support comes in at 19166-69--resistance at 19609-13 then 19788-99.

Brent spot futures support lies at 6119-23 then 6064-66---with resistance seen at 6190-98 then 6234         

Dec WTI support is seen at 5460-62 then 5403-06--resistance lies at 5591 then 5641-51

Dec Ng futures are up almost 8 cts from yesterday's settlement as weather forecasts maintained a chilly outlook for the next two weeks -as per NGI reporting.

This week's EIA storage data is seen as an injection of 85 bcf as per Platts survey --which is higher than last year's

+49 bcf and the 5 yr avg +65 bcf ---but next week's number as per

+Platts Analytics is seen as a +47 bcf --which would

be the first below 5 yr avg injection in months--the 5 yr avg for next week's number is +57 bcf.

Technically Ng is firm with positive price action and momentum as it pushes over the 2710 major high from September.

Above this we see resistance in the 2732-2733 area.... Support lies at 2639-2641-then at 2600-2603.

The only drawback for the NG contract is that it is trading above its upper Bollinger band on the DC & daily charts-- the DC value lies at about 2.630-2.635, while the Dec daily chart sees its upper Bollinger in the 2690 area. 

This e-mail, its contents, and any attachments are intended solely for the addressee(s) shown above, The e-mail and its contents are provided to you for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any commodity, futures contract, option contract, or other transaction. Although any statements of fact have been obtained from and are based on sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed.

Notice: This e-mail message and any attachment to this e-mail message contain information that may be legally privileged and confidential from Liquidity Energy, LLC. If you are not the intended recipient, you must not review, transmit, convert to hard copy media, copy, use or disseminate this e-mail or any attachments to it. If you have received this e-mail in error, please immediately notify us by return e-mail or by telephone at (609)-716-1500 and delete this message. Please note that if this e-mail message contains a forwarded message or is a reply to a prior message, some or all of the contents of this message or any attachments may not have been produced by Liquidity Energy LLC.

Commodity trading involves risks, and you should fully understand those risks prior to trading. Liquidity Energy LLC, and its affiliates assume no liability for the use of any information contained herein. Neither the information, nor any opinion expressed shall be construed as an offer to buy or sell any futures or options on futures contracts. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Any opinions expressed herein are subject to change without notice, are that of the individual, and not necessarily the opinion of Liquidity Energy LLC.