United States

WTI and RBOB prices have drifted higher after modest weakness following API's inventory data overnight and then spiked after DOE reported a smaller than expected crude build, and bigger than expected gasoline and distillate draws. Following the lage rig count data, US crude production rose once again to its highest since Feb 2016.

API

• Crude +1.91mm (+2mm exp)
• Cushing -576k
• Gasoline -1.104mm (-2mm exp)
• Distillates -2.035mm

DOE

Shots were fired this morning near the U.S. Capitol in Washington, D.C. According to ABC, Capitol Police responded to the area at Washington Ave and Independence Ave, which is located near the U.S. Botanic Garden and the Rayburn House office building.

The suspect struck a Capitol Police cruiser and then tried running over several officers who were on foot, according to Metro DC Police. At one point Capitol Police fired shots, but no one was hit. The suspect was apprehended at 3rd and Independence Ave, and has been taken into custody.

So much flip-flopping from Dennis Gartman in just the past week, it is enough to make one's head spin.

Brexit day has finally arrived, and despite this major "risk event", European and Asian stocks are trading mixed, while S&P futures are just fractionally lower as a bounce on optimism over the American economy appears to have fizzled and President Trump continues to struggle to pass his legislative agenda. The pound first dipped then rose as the U.K. is set to begin its life outside the EU. 

On January 1, 1994, the North American Free Trade Agreement (NAFTA) officially came into effect, virtually eliminating all tariffs and trade restrictions between the United States, Canada, and Mexico. As Visual Capitalist's Jeff Desjardins reminds readers: