Oil & Gas Daily 08Jul

Wednesday's Crude Auction

WTI Daily Auction 08Jul


  • The Key Support Area Was Tested Early In Asia Trade As Balance Developed, 40.30s-40.73s, Above Key Support Into The London Auction. Balance Continued Through London Trade Into The NY Open. 
  • A Re-Test Of Globex Support Developed Early In NY Trade As Sellers Trapped, 40.40s/40.50s, Amidst Buy Excess Through The EIA Release (+5.6mil v -3.11mil exp). Rotation Higher Developed To 41.08s At/Near Key Resistance, Forming An Unsecured High Into The NY Close....

Oil & Gas Daily 07Jul

Tuesday's Crude Auction

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WTI Daily Auction 07Jul


  • Price Discovery Lower Developed In Asia Trade To 39.99s As A Sellside Breakdown Attempt Developed Into The London Open.
  • Minor Price Discovery Lower Continued In London Trade To 39.90s Where Buy Excess Emerged, Halting The Selloff. Rotation Higher Then Ensued To 40.48s Into The NY Open. 
  • Buying Interest Emerged Early In NY At Key Support Before A Rally Ensued To 40.95s. Selling Interest Emerged There Amidst Sell Excess, Halting The Rally Before A Selloff Ensued To 40.50s Into The NY Close....