WTI Crude Daily 27Jul

Monday's Auction
via The Daily

As noted in Fri's analysis, the focus into Mon's auction on response to Fri's late auction Buying Tail, 47.70s-47.90s, was key as selling interest drove price lower through Fri's Buying Tail, achieving the Stopping Point, 47.20s,  before selling pressure continued following the Globex reopen. Focus into Tue's auction on response to Mon's Unsecured Low, 46.90s.

WTI Gap Lower Opens
via The Daily
Monday's auction saw a structural Gap Lower open. Based on the market generated data, this market structure implied asymmetric potential for lower prices. The market ultimately saw price discovery lower toward 46.90s in poorly facilitated summer trade.

Weekend News 26Jul

19-24Jul Auction 
via The Daily

Central Banks 

Both Buyside & Sellside Excess (Tails) Result In Directional Activity

  • US Banks Prepare For Oil & Gas Loans To Worsen. (Reuters)
  • Additional Monetary Easing For China?  (Bruegel)
  • Effect Of Strong USDollar On US "Growth". (NY Fed) 

Geopolitics

Supply/Demand & Markets

  • EIA: +2.5mil v -1.9mil exp. (EIA)

WTI Crude Daily 24Jul

Friday's Auction
via The Daily
As noted in Thu's analysis, the focus into Fri's auction on response to 48.20s, was key as selling interest drove price modestly lower toward 47.70s. Focus into Mon's auction on response to Fri's late auction Buying Tail, 47.70s-47.90s.