Weekend News 08Sep

Another choppy series of auctions this week as the market dealt
with the ECB announcement & US NFP. The Brent-WTI spread 
ended the week largely unchanged from last week’s close at/near $18.31. Following
the rally of the spread toward the April highs in mid August, Brent-WTI has since failed
to make new highs above the $20 area.   
Meanwhile, Brent-WTI correlation was also largely unchanged from last week’s close
at/near (+.55), and USDollar-WTI correlation moved toward neutral closing at/near (-.44)
from last week’s close (-.87). 

FOMC decision is likely key event this week.

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Geo-Politics

Supply/Demand & Markets