Weekend News 09Feb

USD-WTI & Brent-WTI Correlations.

As inferred last week (here) & (here), the 97s failed as support and the market auctioned lower into the middle Jan cluster (95s-97s), achieving a stopping point at/near the structural support, 95s. 

Market response at 95s will be key next week. IF 95s fail as support, then price discovery lower into the lowest Jan trade cluster, 94.30s-92.40s. IF 95s are defended as support, then the market will revisit 97s and possibly challenge the intermediate high at/near 98.20s. 
Graphics

Central Banks 

Geo-Politics

  • Iran Rejects Direct Talks With The US. (RT)
  • Geithner, “Creative & Tireless Thinker”, Joins CFR. (Zerohedge)

Supply/Demand & Markets

HFT/Algo