Oil & Gas Daily 10Jul

Friday's Crude Auction

WTI Daily Auction 10Jul

WTI

  • Balance Developed Early In Asia Trade Around Thu's Settlement Before A Sell Excess Formed And A Sellside Breakdown Developed To 38.83s Through Key Resistance Into The London Auction. Minor Price Discovery Lower Developed To 38.54s In London Trade Before Price Reversed Amidst An Unsecured Low, Driving Price Back To Key Support Into The NY Open. 
  • Buying Interest Emerged Amidst Excess Early In NY Trade As The Globex Breakdown Failed. A Rally Ensued Through NY Trade To 40.77s As Buying Interest Emerged Into The NY Close....

Oil & Gas Daily 09Jul

Thursday's Crude Auction

WTI Daily Auction 09Jul

WTI

  • Balance Developed Early In Asia Trade Below Key Resistance As A D-Shape Cluster Formed Into The London Auction. Balance Continued Through London Trade Into The NY Open. 
  • Sell Excess Formed Early In NY Trade As A Sellside Breakdown Ensued, Driving Price Aggressively Lower To 39.27s Near Thu's ADR Low Target. Buying Interest Emerged Amidst Buy Excess, Halting The Selloff. A Relief Rally Ensued To 40.10s Where Buyers Trapped As Balance Developed, 39.27s-40.10s, Into The NY Close....