WTI 28Jun

Tuesday’s Auction
via The Daily

As noted in Fri’s analysis, the focus into Mon’s auction on response to developing Cluster, 47.50s-48.50s, was key as selling interest entered near Fri Settlement, driving price lower toward the Daily 2nd Std Dev Low where responsive buy programs entered, driving price higher in short covering inventory adjustment, closing at 46.33s. Focus into Tue’s auction on response to Mon’s Stopping Point Low, 45.83s. 

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WTI 27Jun

Monday’s Auction
via The Daily

As noted in Fri’s analysis, the focus into Mon’s auction on response to developing Cluster, 47.50s-48.50s, was key as selling interest entered near Fri Settlement, driving price lower toward the Daily 2nd Std Dev Low where responsive buy programs entered, driving price higher in short covering inventory adjustment, closing at 46.33s. Focus into Tue’s auction on response to Mon’s Stopping Point Low, 45.83s. 

Week In Review 26Jun

Central Banks

  • Fed Should Let Inflation Overshoot Targets, Sayeth IMF. (Telegraph)
  • Global Oil Sector To Lose Out On $1Trillion As Investment Dries Up. (Telegraph)
  • Blockchain Technology Gets Hearing Inside Fed’s Headquarters. (WSJ)

Geopolitics

Supply/Demand & Markets

WTI 24Jun

Friday’s Auction
via The Daily

As noted in Thu’s analysis, the focus into Fri’s auction on response to Thu’s Buy Spike, 49.60s-50.17s, was key as selling interest emerged there early in the Asia auction post-Brexit vote, driving price aggressively lower through Daily Statistical Supports to 46.70s near Composite Cluster Support, closing at 47.64s. Buying interest emerged there as Balance developed, 48.40s-47.40s. Focus into Mon’s auction on response to developing Cluster, 47.50s-48.50s. 

WTI 23Jun

Thursday’s Auction
via The Daily

As noted in Wed’s analysis, the focus into Thu’s auction on response to Wed’s Stopping Point Low, 48.40s-48.60s, was largely insignificant as buying interest drove price higher from Wed Settlement, achieving a Globex Stopping Point High, 50s, ahead of the NY auction. Selling interest emerged there, driving price lower toward 49.25s into mid-auction before buying interest entered late in the auction, forming a Buy Spike, 49.60s-50.17s, closing at/near 50.11s  Focus into Fri’s auction on response to Thu’s Buy Spike, 49.60s-50.17s. 

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