As noted in
last week's analysis, focus on potential development of the Structural Stopping
Point Low, 100.40s, was key as selling interest drove price lower to challenge
Major Structural Support, 99s, at/near the Apr-Jul Composite Cluster Support. Buying
interest responded there, driving price aggressively higher toward the Avg
Weekly Range High/Apr-Jul Composite POC, on "bullish" EIA data and heightened geopolitical
risk narrative.
Graphics
- Gasoline Prices, By Country. (IEA)
Central Banks
- US Gold Dealer Launches First Digital Currency Backed By Gold. (Reuters)
- Insider Trading & Financial Terrorism On COMEX. (Paul Craig Roberts)
Geopolitics
- The Nasdaq Hack. (Bloomberg)
- Did the US Commerce Condensate Rulings Mean Nothing? (Platts)
Supply/Demand & Markets
- US Oil Imports Lowest In 21 Years For June, Sayeth API. (Bloomberg)
- Oil Prospects In the Delaware Basin. (Platts)