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| This week's auction saw the Brent-WTI spread essentially flat from last week at/near $17.39. Additionally, USDollar-WTI correlation returned to a slightly negative correlation (-.13) after several weeks of positive correlation. Should the USD-WTI continue to increase its negative correlation, we would expect currency market behavior to have more prominent effect on WTI pricing. The Brent-WTI correlation remains positively correlated (+.84) as is normalized. |
- EIA Inventory Release, 22Aug. (Nanex)
- Commodity Price Comparison Since 2008 Peaks. (Reuters/Catherine Trevethan)
- China GDP & PMI. (Reuters/Scott Barber)
- German GDP & Export PMI. (Reuters/Scott Barber)
- Week Ahead In Central Banking. (FT Money Supply/Claire Jones)
- Internationalization Of Renminbi Into Africa. (FT Beyond BRICs)
- BoE Says Pensioners Biggest Winners Of QE. (Telegraph)
- Gold Standard: Easier Said Than Done. (Sovereign Man)
- Bernanke Says Fed Has Scope To Provide More Stimulus. (Reuters)
- 40yrs of Gold Confiscation By The US Govt. (Zerohedge)
- RBS Probed Over Possible Iran Sanctions. (Reuters)
- Saudi Arabia On The Offensive v Iran. (Oil Price)
- Australia Implements Sanctions Against Iran. (Platts)