Midweek News 16Jul

The market saw no retest of the Stopping Point Low, 99s, established Tue as short covering inventory adjustment dominated Wed's session toward the daily 2nd Std Dev High and High Usage Resistance overhead.

Graphics

• Countries, By Dividend Yield. (Bespoke)

Central Banks

• Emerging Central Banks Rebuild Hard Currency Reserves. (Reuters)

• A New Global Currency Setup Is Being Conceived. (Bullion Star)

Geopolitics

• US/EU Escalate Sanctions On Russia. (Bloomberg)

• The World Bank, BRICs Bank, and IMF. (Bloomberg)

• ENI CEO May Face Down Unions To Shut Refineries. (Bloomberg)

• Ban On US Crude Oil Export Will Not Be Lifted This Year, Sayeth US House Energy/Commerce Committe Chair. (Bloomberg)
  

Source: EIA (Jul 2014)

Supply/Demand & Markets 

• API: -4.8mil. (Bloomberg)
  

• EIA: -7.5mil v -2.1mil exp. (EIA)
  

• Crumbling Roads Slows US Oil Boom. (Bloomberg)