The market balanced early week, 105s-106.40s, around last week’s Settlement, 106s, in continued low volatility trade. The market continued narrow rotational trade into midweek.
A Structural Buying Tail, 105.60s-106.05s, confirmed in the Wed session, driving price higher, achieving the Stopping Point, 108.20s, within the Major Overhead Supply Cluster, 107.10s-108.20s. The market balanced, 106.50s-107.50s, into week’s end with Sep-Oct contract roll underway, closing 107.30s.
- Five Lesser Known Facts About Yellen & Summers. (Reuters)
- BOE Split On Forward Guidance. (Telegraph)
Supply/Demand & Markets
- Oil Demand In China, India & Iranian Import Issues. (Platts)
- Mexico Plans Regulatory Changes for Privatized Risk Sharing After 75yr State Monopoly. (Bloomberg)