As noted in
last week's analysis, focus into this week's auction on the developing trade
cluster, 107.50s-106.50s, was consistent with the phases of market development
as last week's Stopping Point High was confirmed and followed by Balance
development and retracement toward the prior Major Resistance/Key Breakout
Area.
Graphics
- Total Energy Production By State, 2011. (EIA)
- Still Waiting For Fed Rate Hikes. (Bespoke)
Central Banks
Geopolitics
- Putin Aide Proposes Anti-Dollar Alliance In Response To US Involvement In Ukraine. (Voice Of Russia)
- $120 Oil Flagged As "Danger" For Global Economy On Iraq Crisis. (Bloomberg)
- Russia Focusing On Market Fundamentals As Politics Dominates Oil Markets, Sayeth Russian Energy Minister. (Platts)
- Bloody History In Iraq Repeating. (Charles Duelfer via New York Daily News)
Supply/Demand & Markets
- $120 Oil Flagged As "Danger" For Global Economy On Iraq Crisis. (Bloomberg)