Weekend News 25Aug

This week’s auction saw the Brent-WTI spread essentially flat from last week at/near $17.39. 
Additionally, USDollar-WTI correlation returned to a slightly negative correlation (-.13) after several weeks of positive correlation. Should the USD-WTI continue to increase its negative correlation, we would expect currency market behavior to have more prominent effect on WTI pricing.
The Brent-WTI correlation remains positively correlated (+.84) as is normalized. 

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Central Banks

Geo-Politics

  • 40yrs of Gold Confiscation By The US Govt. (Zerohedge)
  • RBS Probed Over Possible Iran Sanctions. (Reuters)
  • Saudi Arabia On The Offensive v Iran. (Oil Price)
  • Australia Implements Sanctions Against Iran. (Platts)

Supply/Demand & Markets

  • Supply Side Of Oil Market Coping With Iranian Export Decline, et al. (Platts)
  • LTO & Unconventional Gas. (IEA)
  • Primer On Nuclear Energy. (IEA)
  • Will Russia Replicate US Success In Tight Oil Development? (Platts)

Midweek News 22Aug

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  • S&P 500 Sectors Relative Performance. (Bespoke)
  • Crude Oil Price Review, YTD. (EIA)
  • Crude Inventories (Page 10). (EIA)

Central Banks

Geo-Politics

  • Tax v Debt: Where Does US Funding Come From? (Zerohedge)
  • White House Mulls Release Of SPR. (Fox Business)
  • Rising Gas Prices In US Not A Big Concern For Voters. (Reuters)
  • POTUS’ Latest Pretext For War With Syria. (RT)

Supply/Demand & Markets

  • API: -6mil v +250k exp. (Reuters)
  • EIA: -5.4mil v -250k exp. (EIA)
  • China’s Jul Iran Crude Imports Slide 30% On Year. (Platts)
  • The Potentials Of & Concerns Over LTO. (IEA)

WTI Crude: Summer Volatility Shift From London To NY 18Aug

Eurozone Crises driven volatility in early July in the London session has declined substantially into mid August.

 Meanwhile, near term low volatility from early July in the NY Session has normalized into mid August in spite of the summer doldrums.

Fiscal & banking decisions due in September in Europe will bear watching….

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Weekend News 18Aug

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Central Banks

Geo-Politics

  • Expansion Of Cyber War To Banks & Neutral States. (Atlantic)

Supply/Demand & Markets

Midweek News 15Aug

Graphics

  • Brent-WTI Spread, Yearly Highs. (Bespoke)
  • Crude Inventories, Third Weekly Drop. (Bespoke)

Central Banks

Geo-Politics

  • Sanctions Force Iranian Retreat From Global Stage. (Oil Price)
  • Sanctions On Syrian (Proxy Iran) Energy Taking Toll On Regime, Sayeth IMF. (Oil Price)
  • Iraq Overtakes Iran As OPEC #2 Oil Producer. (Platts)

Supply/Demand & Markets