Quick Overview

• U.S. Consumer prices fell 0.1% in August.
  

• U.S. August’s housing starts fell 2.6% from July's pace -- the lowest in twelve years. YoY housing starts are down 24%.
  

• YoY consumer prices in Canada rose 1.7% in August.
  

• The Bank of Japan kept interest rate unchanged at 0.50%.
  
  

• The U.S. Department of Energy said that:
  Supplies of crude oil fell 3.8 million barrels to 318.8 million barrels. Supplies of gasoline rose 400,000 barrels
  Supplies of heating oil rose 600,000 barrels.
  Refinery use fell last week from 90.5% to 89.6% of capacity.
  Gasoline demand rose 0.5% YoY
  Distillate demand fell 1.0% YoY.
  
  

• The World Energy Counsel raised its worldwide estimate of proven and recoverable conventional oil reserves by 117 billion barrels to 1.215 trillion barrels.