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| Correlations reinvert this week. Recent correlation trend in USD-WTI reversing? |
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| This week's auction showed a breakout abv last week's Balance area 84.40s-87.20s. As inferred last week, price discovery occurred into the upper cluster 87.50s-89.20s. Sellside shut off the buyside auction at/near 89.60s following clearing of the stops at prior supply, 89.20s. Balance then ensued. Following multi-week balance from 84s-87.20s and weekly value now facilitating trade higher, probability favors challenge of current cluster high 89.60s and possible continuation higher into major supply cluster overhead 91-93s (here), barring external bearish catalyst. Should that occur, expectation would shift to revisit 84s with possible breakdown toward 80s. |
- World Energy Outlook 2012 Slideshow. (IEA/Slideshare)
- Pullback 42. (Bespoke)
- FSB's 5 Steps To Fix Shadow Banking. (Business Week)
- Cure For Economic Slump, Higher Interest Rates? (Bloomberg)
- European Banks Call For Basel III Delay. (Telegraph)
- World Economic Forum's New Energy Powwow In Canada. (Platts)
- Argentina Hikes Energy Tariff. (FT Beyond BRICs)
- Turkey-Syria Standoff: Patriot Missiles, Kurdish Fighters At Border. (RT)
- China's Oil Demand Continues Robust Growth In Oct. (Platts)