WTI 03Jan

Friday's Auction

  • Friday's Auction Saw Aggressive Price Discovery Higher Through Key Resistance, 61.67s, Following The Geo-Political Narrative Regarding Iran Becoming Known Late Thursday. The Market Traded Through All 3 Statistical Targets To 64.09s Into The London Auction. Sell Excess Developed There, Halting The Buyside Sequence.
  • Minor Price Discovery Lower Developed To 63.10s Into The NY Open Before Narrow Balance Developed Ahead Of The EIA Release (-11.4mil v -3.2mil). Selling Interest Emerged, Driving Price Lower To 62.22s Where Buy Excess Formed, Halting The Sellside Sequence. Price Discovery Higher Developed To 63.40s Near Fri's 2SD High Target Into The NY Close....