Oil & Gas Daily 23Sep

Wed's Auction Saw Minor Price Discovery Lower To 39.26s In Asia Trade. Buy Excess Formed There Early In London Trade Driving Price Higher To 40.15s. Minor Sell Excess Developed There As Narrow Balance Developed Into The NY Open. 

Balance Continued Early In NY Trade Before Price Discovery Higher Developed To 40.52s Through The EIA Release (-1.6mil v -2.3mil exp). Buyers Trapped Amidst Selling Interest As Balance Developed, 40.50s-39.70s. A Second Attmpet Higher Then Developed To 40.75s Where Selling Interest Emerged Amidst Excess, Halting The Breakout. Price Discovery Lower Developed As The Breakout Failed, Driving Price Lower To 39.60s Into The NY Close....