Midweek News 31Jul

Source: EIA (Jul 2013)

Graphics

Central Banks

Geopolitics

  • JPMorgan Mulls Physical Commodities Exit. (Bloomberg)
  • US Scrutiny Of Banks’ Role In Commodities Deepens. (Reuters)

Supply/Demand & Markets

Weekend News 27Jul

The market balanced early week around last week’s Settlement, 107.90s, at/near the Major Structural Stopping Point, 108.90s, encountering a Sell Response, which began the sellside directional phase. 

Price discovery lower continued into early Thu, achieving the Stopping Point, 104.10s, at/near the Major Structural Demand. The market failed to encounter initiated selling there to drive price lower; the market balanced, 104.10s-105.80s, probing the low to 103.90s in Friday’s session, closing the week at 104.70s. 

Graphics

Central Banks

  • ECB Actions: More Needed Sayeth IMF. (IMF)
  • Taper To $65bil/mth In September? (Bloomberg)

Geopolitics

  • Baker Hughes Says US DOJ Opens Anti-Trust Probe Into Fracking. (Bloomberg)
  • Halliburton Pleads Guilty To Destroying Oil Spill Files. (Bloomberg)

Supply/Demand & Markets

  • Oil Price Volatility: Its Risk On Economic Growth & Development. (World Bank)
  • Conventional, Unconventional, Or Both? (Platts)
  • The Physical Commodity Storage Shuffle By The Squids. (NYT)
  • Highlights Of Latest Oil Market Report. (IEA)