Midweek News 25Jul

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Central Banks

  • Musings on QE. (FT Alpha)
  • Federal Reserve Considers Money Market Fund Withdrawal Limits. (Dollar Collapse)
  • Weill’s Background & Call For Breakup Of Banks. (FT Alpha)
  • Rep. Paul’s Audit the Fed Bill Passes House, 327-98. (RT)

Geo-Politics

  • France & Italy Disdain For Spain. (FT Brussels Blog)
  • World Being Readied For Aggression Against Syria- William Engdahl. (RT)
  • EU Crises & Property Bubble Threaten China’s Economy-IMF. (RT)

Supply/Demand & Markets

  • API: +1.3mil v -700k exp. (Reuters)
  • EIA: +2.7mil v -1mil exp. (EIA)
  • China Dives Into UK North Sea Oil Industry. (The Telegraph)
  • China’s Oil Demand Drops In June. (Platts)
  • Oil v Natural Gas. Nat Gas Still Far From Covering Production Costs. (Forbes)
  • Peak Oil Dead? (FT Alpha)

WTI Crude: Tomorrow’s Levels, Today. 24Jul

Our daily statistical study plotting both price action for 20Jul with key reference levels for 23Jul. Result?? 
The market saw 3+ sigma sellside auction in the Globex session beyond the 2nd Std Dev Low, 89.15s, referenced Friday. Spanish narrative (including complete short selling ban) was catalyst. With the exception of geo-political or margin catalysts, rotation of this magnitude is usually followed by a balance phase. This is what developed in the Pit session until liquidation into close.   

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