|Following Friday’s close at/near the low, 85.80s,
the market has auctioned back through Friday’s range
during the Globex session toward Friday’s high, 86.80s.
85.80s-86.80 Balance continues, overnight inventory long
as of 730 CST.
|USD-WTI negative correlation trend continues and
has reached near fully negative correlation.
Brent-WTI spread closed lower this week at/near $21.22
- ECB Refrains From Further Rate Cuts, BOE Holds Steady. (Bloomberg)
- Europe’s Banks Hopeful Key Meetings Will Disperse Regulatory Fog. (Chicago Tribune)
- Iran Oil Export Delays Worsening Under Sanctions. (Bloomberg)
- UK Claims Evidence Assad May Use Chemical Weapons. (RT)
Supply/Demand & Markets