As noted in last week's analysis, focus into this week's auction on response to potential Stopping Point Low, 90.43s (89.25s Nov Contract), was key as buying interest emerged there upon retest early in the week. Aggressive short covering drove price higher out of Balance into midweek before pulling back to the Breakout Area late in the week. Focus on response to 91.25s-91.80s into next week's auction.
14-19Sep Auction
Central Banks
- Can the Petrodollar Survive Low Interest Rates? (Luke Gromen via Sprott)
- Could Obama Be First POTUS Not To See A Rate Hike? (Value Walk)
Geopolitics
- Uncle Sam's Missing Money. (Masters-In-Accounting.org via Value Walk)
- East China Sea. (EIA)
- Fallout Between Russia & West Puts European Corporates In A Bind. (S&P Capital IQ)
Supply/Demand & Markets
- Brent-WTI Spread Testing Important Reference. (Just Joe Charts via CQG)
- Oil Contango. (Bloomberg)
- Cheaper Oil "No Big Threat" To Gulf Economies. (Reuters)