WTI Crude: Daily Structure & Price. 28Aug


Wednesday's Auction

As noted in Wed's analysis, focus on response at multi-day POC, 93.50s, and the Structural Buying Tail, 93.35s-93s, was key  in Thu's auction as this week's potential for price discovery higher has unfolded. Focus on response at/near Key Structural Resistance, 95.10s, into Fri's auction.

Thursday's Auction

Midweek News 27Aug

 

Wed's auction saw continued development of the multi-day Balance. In spite of selling interest at Key Structural Resistance following "bullish" EIA data, price discovery lower elicited buying interest at/near the multi-day POC. Focus on response at multi-day POC, 93.50s, and the Structural Buying Tail, 93.35s-93s into Thu's auction.

Wednesday's Auction    


Graphics

  • Energy Reforms Could Increase Mexico's Long Term Oil Production By 75%. (EIA)

Central Banks

  • Central Banks Can Only Buy Time, Sayeth BIS Chief. (Reuters)
  • Draghi's Jackson Hole Speech Means Lower Euro. (Validus)

Geopolitics

  • Islamic State Resembles Taliban With Oil Fields. (Bloomberg)
Source: EIA (Aug 2014)

Supply/Demand & Markets

  • EIA: -2.1mil exp v +1.1mil exp. (EIA)
  • China Oil Demand Down 2.1% In Jul YoY. (Platts)

WTI Crude: Daily Structure & Price. 26Aug


Mon's Auction
As noted in Mon's analysis, focus into Tue's auction on development of Balance and response around the POC, 93.35, was key as buying interest emerged at/near there driving price higher toward the Avg Daily Range High. Focus into Wed on potential for price discovery higher following the buying interest at the 7 Day POC. 

Tue's Auction

WTI Crude: Daily Structure & Price. 25Aug


Friday's Auction
As noted in Fri's analysis, focus into Mon's session on potential for responsive trade at Balance edges, 94.05s and 92.80s, was key as Balance development continued following last week's Structural Stopping Point Low, 92.50s. Focus on development of Balance and response around POC, 93.35, into Tue's auction. 

Monday's Auction

Weekend News 24Aug

11-15Aug Auction

Weekly Range Study

 As noted in last week's analysis, focus on response to last week's  Breakdown Level, 95s, for confirmation or negation of the Sellside Auction  was key as selling interest emerged there's resulting in continued price discovery lower in this week's auction, achieving a new Structural Stopping Point Low, 92.50s, near Jan 2014's Lower POC.


Jan-Feb 2014 Auction


This week's Structural Selling Tail, 95.25s-94.75s, and response there will be of focus into next week's auction as potential for development of Balance, 92.50s-96.50s, exists, consistent with the phases of market development. 

                               
           

                                                        17-22Aug Auction
        via Weekly Statistical Levels Study          

Graphics

  • Kein Fluchtweg. (FuW) 

Central Banks


  • Draghi's Preperared Remarks At Jackson Hole. (ECB)

Geopolitics

  • FT Attributes Lower Brent Prices To Russia. (FT) 
  • Japan Fears Hit To Russian Energy Development. (WSJ)
  • G20 Edges Closer To Bond Bail-In Cushion For TBTF Banks. (Reuters)

Supply/Demand & Markets 

  • 5 Regions Where IOCs Are Chasing Production. (Oil Price)
  • Iraqi Kurds Expecting Quadrupling Of Oil Exports. (Bloomberg)

WTI Crude: Daily Structure & Price. 21Aug


Wednesday's Auction
 
As noted in Wed's analysis, focus on potential for Balance Development into Thu's auction was consistent with the outcome and the phase of market development. The Key Structural Level, 93.50s, held as resistance during the Globex session before buying interest ultimately drove price above it toward 94.50s, as the larger Balance area developed. Focus on response to the Breakout Point/Prior Resistance, 93.60s, into Fri's auction.

Thursday's Auction 

Midweek News 20Aug

 
Tuesday's Auction

As noted in Tue's analysis, focus on response to  the Structural Stopping Point. 92.60s, was key into Wed's session as buying interest emerged at/near 92.80s, confirming the Stopping Point Low, driving price higher toward Mon's Sell Program Resistance, 93.50s. Focus on potential for Balance Development into Thu's session.  

Wednesday's Auction 

Graphics

  • Russia-China Deal To Supply Siberian Gas To China's Northern, Eastern Provinces. (EIA)

Central Banks

Geopolitics

  • Hillary Clinton's Foreign Policy Views Don't Matter In Election Politics. (Diplomat)

Supply/Demand & Markets
Source: EIA (Aug 2014)

  • EIA: -4.5mil v -1.16mil exp. (EIA)