Weekend News 13Oct

The Brent-WTI spread closer marginally higher this week at/near $22.76.
The inability of the buyside to drive the market above the near term supply cluster
from $91-93s is worth noting in light of the rising spread condition.

Middle East tensions, Elections, and the Earnings season narrative may provide
next directional phase from the balance of $88-93s.

Graphics

Source: EIA (October 2012)


Central Banks

Geo-Politics

  • LIBOR-Gate Comes to Crude: Price Fixing In OTC By PRAs? (Zerohedge)
  • Pentagon Deploys SF To Jordan-Syria Border. (RT)

Supply/Demand & Markets

  • EIA: +1.7mil. (EIA)
  • Iraqi Oil Game Changer For World Markets, Sayeth IEA. (IEA)
  • Sweet Oil Flow To US Will Dry Up By 2014, Sayeth Total. (Reuters)
  • CFTC Exempt Energy Swaps From New Dealers Until 2013. (Reuters)