Weekend News 27Oct

The Brent-WTI Spread closed at/near $23.46 this week.
Demand in Brent contract persists.


As we referenced in our daily studies this week,
WTI achieved a stopping point at/near $85 and a
2 day balance phase. Balance begets imbalance
and next directional move.

Will the intermediate term sellside take the market
toward $80, or will sellers find themselves
short in the hole causing a counter-trend rally?

China Manufacturing PMI & US NFP may
serve as catalysts this coming week,

barring any other external shocks.
Hurricane Sandy may cause disruption
(some tankers caught along Atlantic coast,
some refining capacity at risk).

Graphics

Central Banks

Geo-Politics

Supply/Demand & Markets

  • China’s Iranian Crude Imports Fall 24% yoy In Sep. (Platts)

Midweek News 24Oct

Source: EIA (October 2012)

Graphics

Central Banks

  • Bernanke Wants To Resign? (RT)
  • China Grasps Value Of Gold, Even If US Doesn’t. (RollCall)
  • German Suspicions About Foreign Stored Gold. (FT Alpha)

Geo-Politics

  • Iran Will Stop Oil Exports If US Imposes More Sanctions. (Platts)
  • Labeling China A Currency Manipulator Poses Risk. (NYT)
  • Rewrite Basel III Capital Rules, Sayeth US Banks. (Businessweek)

Supply/Demand & Markets