The market auctioned higher early week from last week's Settlement, 96s, toward the Avg Wkly Range High, 97.34s, achieving the Stopping Point & Balance before initiated selling entered the market, driving price lower,achieving the Stopping Point at/near 92.20s.
Following the Stopping Point at/near the 92.20s, the market began a Balance Phase, developing a lower trade cluster, 92.20s-94.50s, into week's end, closing at/near 94.20s.
Graphics
- Asia PMI. (Reuters/Catherine Trevethan)
Central Banks
- Central Banks Stuck On Currency Debasement Treadmill. (Telegraph)
- Japan Draws First Blood In The Currency Wars. (Validus)
Geopolitics
- Major US Military Operations To "Protect" Oil: 1970s-Present. (Oil Change)
- Israel Preparing For Potential Fall Of Assad In Syria. (RT)
Supply/Demand & Markets
- Eagle Ford. (Platts)