Oil & Gas Daily 31Jul

Friday's Crude Auction

WTI Daily Auction 31Jul


  • Fri's Auction Saw Minor Rotation Higher During Asia Trade From Thu Settlement To 40.55s, Challenging Key Resistance. Buyers Trapped Amidst Sell Excess As Balance Developed, 40.55s-39.96s, Into The London Auction. Balance Continued Through London Trade Into The NY Open. 
  • Buyers Trapped Early In NY Trade At Key Resistance Before A Sellside Breakdown Attempt Developed Through Settlement To 39.66s. Buying Interest Emerged There As Sellers Trapped, Halting The Selloff. A Retracement Rally Then Developed To 40.40s Into The NY Close....