Weekend News 24Sep

The Brent-WTI spread closed higher last week at/near $18.46
while the Brent-WTI correlation declined only slightly.
USDollar-WTI correlation once again moved
back toward non-correlation (-.98 to -.29).

Graphics

Central Banks

Geo-Politics

  • Help The Poor & Middle Class, Encourage Deflation. (Of Two Minds)
  • Can Saudi Arabia Really Lower US Gas Prices Ahead Of Election? (Zerohedge)
  • As China-Japan Conflict Escalates, Whom Will US Support? (Zerohedge)
  • US Warns Brazil On Tariffs, Gets Rebuked. (Reuters)

Supply/Demand & Markets

  • BP Proposed Buying Russia Rosneft Stake. (Reuters)
  • Shell Cleared To Drill In Alsaka’s Beaufort Sea. (Telegraph)

WTI Crude: ECB, NFP, FOMC Effect Comparison. 21Sep

Since completing the economic release cycle for Q3 last week (ECB, NFP, FOMC),
a comparative look at the effects of each announcement on WTI’s daily range.
Items of note:
First is the relative equivalence of the ECB v FOMC.
Secondly, the NFP had a larger effect in both London & NY Sessions.
Finally, no ranges deviate significantly from the longer term
Avg Daily Range amplitudes to any large degree. 

Despite the sound & fury surrounding central bank
announcements, only NFP offered an edge in range potential v normal tendencies.

For additional information & the Q3 reports,
please visit our subscription page