The market opened this week at/near 102.50s, where sell programs entered, driving price lower, achieving the Weekly Stopping Point Low, 101s, developing the Balance Area, 101S-102.50s, into midweek.
Buy programs entered on the EIA narrative, driving price higher, above the multi-day Balance, achieving the Weekly Stopping Point High, at/near 104.40s, near last week’s Overhead Supply Cluster/Low Usage Area, 103.80s-104.40s. The market balanced, 102.80s-104.40s, closing at/near 103.60s.
- Hurricane Karen. (NOAA)
- Gasoline Price. (Bespoke)
Gold Price & Reserves. (Reuters/Catherine Trevethan)
- Loose Monetary Policy Needed To Counter Washington Gridlock, Sayeth Fed Officials. (Reuters)
- Who’s Going To Succeed Gensler At CFTC? (Platts)
- Libya In Chaos Two Years After NATO’s “Humanitarian Liberation”. (William Engdahl/Ron Paul Institute)
- Despite Shale, OPEC Still Matters. All The More Reason For Cntrl+P Infinity. (Daniel Graeber/Oil Price)
- Implications Of Government Shutdown On US Oil & Gas. (Platts)
Supply/Demand & Markets
- US Surpasses Russia As World’s Top Oil & Gas Producer. (Guardian)
Industry “Introspection” At The WEF Energy Confab. (Platts)
- Private Equity Takes Over Where Banks Leave Off. (Platts)