The market
balanced early week, 101.50s-102.50s around last week's Settlement, 102s, at/near Key
Structural Resistance/High Usage Overhead, before initiative buy programs
entered Tue at/near 102.20s, driving price higher, achieving a Stopping Point, 103.25s, into Wed's EIA data.
Initiative buy programs entered at/near 103.15s
following the EIA, driving price higher, achieving a Stopping Point, 104.30s,
at/near Mar-May Major Structural Resistance. Responsive sell programs entered,
developing Balance, 104.30s-103.55s, into week's end before initiative buy
programs entered at/near 104.05s,
driving price higher in minor range extension, achieving the Weekly
Stopping Point High, 104.50s, closing at/near 104.35s.
Graphics
- US Oil Imports From Africa Fell +90% From 2010-2014. (EIA)
- Average US Retail Gasoline Price. (EIA)
- China PMI. (Value Walk)
Central Banks
- Fractional Reserve Banking. (James Turk via Zerohedge)
- Options Remain If Further Easing Needed, Sayeth BOJ's Kuroda. (Reuters)
Geopolitics
- Sale Of Kurdish Oil To European Nations Angers Iraqi Government. (Bloomberg)
- Iran Cut Enriched Uranium Stockpile By 80%, Sayeth IAEA. (RT)
- How Gold Helped Iran Withstand US Financial Fury. (Forbes)
Supply/Demand & Markets
- Chevron Sees Permian Shale As Top Five Asset By 2020. (Reuters)