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....