Energy

While Florida and the rest of the Gulf Coast deal with the aftermath of Hurricane Harvey and Irma and the energy markets assess the short-term demand destruction, in the bigger picture for energy, we are getting very bullish data in supply versus demand.
Although the EIA weekly report showed a larger-than-expected decline in crude oil inventories, the price of the commodity declined sharply after news that U.S. crude oil production increased. Thanks to these circumstances, light crude lost 1.62% and closed the day under important support. What does it mean for the black gold?
Since bottoming in early July, the energy sector ETF has rallied by about 5% to break meaningfully above its 50-day moving average for the first time since January. The ETF also was able to clear its eight-month descending trend line in the same area.
Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.MKT) "continues to advance its pipeline of assets while maintaining production optionality," Heiko Ihle wrote in a July 10 research report.
UK interests rates and the draw to gold after the latest White House controversies.

President Donald Trump lays out his bold plan for U.S.

The oil price continues a rebound as production problems start to plague the United States.
The global markets have another concern as a ransomware attack across the Ukraine targeted business including Russian oil and gas company Rosneft and Danish shipping firm Maersk.
Comments on currencies, the oil market and interest rates.
Gold/Jim Rickards: Russia just bought 22 tonnes of gold in May. Brings total reserves to 1,700 tonnes. No news on how much bitcoin they bought. My guess is....zero.