WTI Crude: Daily TPO & Price. 21Feb




Overnight:

As of 730 CST, 
the market has drifted slightly 
lower from Wed’s lower cluster,
93.90s-94.90s, as contract roll shifts
from Mar to Apr.

Following Wed structural breakdown,
selloff, and stopping point at/near 94s, 
expectation for balance within current 
cluster, 94s-95s, as market awaits new
catalyst for next directional phase. 

EIA pending…. 

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)