Midweek News 20Feb

HFT/Algo

Graphics

Central Banks

  • FOMC Minutes. (Federal Reserve)
  • Sterling At Risk Of Large Scale Devaluation As Currency Wars Intensify. (Goldcore)
  • Norway, Europe’s Energy Powerhouse, Enters The Currency Wars. (Zerohedge)
  • RBA Sees Signs Lower Rates Working, Retains Scope To Ease. (Bloomberg)
  • Iceland Foreshadows Loss Of Its Currency. (Bloomberg)

Geo-Politics

  • Export Ban Could Limit US Oil Boom, Sayeth IEA Chief. (Chicago Tribune)
  • Did G-20 Just Signal Further Global Easing? (CNBC)
  • US & China Accuse Each Other Of Cyber Warfare. (RT)

Supply/Demand & Markets

  • API: +2.961mil v +2mil exp. Platts
  • Saudi Oil Output Falls To 19-month Low As Exports Decline. (Bloomberg)
  • February Oil Market Report. (IEA)
  • Vitol’s Dominance Grows In Cash European Oil Markets. (Reuters)

Weekend News 16Feb


As inferred last week, here & herethe focus on the response to the 95s this week was well founded as the market challenged this key structural low early in the week. 

The market failed to breakdown there, creating the inventory adjustment rally phase up to the key structural high at/near 98s into midweek. 



The market achieved the stopping there, balanced, ultimately selling off back through the range late in the week, closing at/near 95.80s. 

Market response at 95s will be key again next week. The market condition is now of balance from 95s-98s, but IF 95s fail to hold as support, price discovery lower into Jan trade cluster, 94.30s-92.40s. IF 95s remain support, continued development in current balance, 95s-98s, would be expected.  

Graphics

Central Banks

Geopolitics

Supply/Demand & Markets

  • Planned Changes To US Crude Oil Pipeline Infrastructure Should Relieve Cushing Bottleneck. (EIA)
  • US Refiners Take Advantage Of Changed US Oil Landscape. (Platts)
  • How Do You Measure China’s Oil Demand? (FT Beyond BRICs)