Tuesday's Auction
As noted in Tue's analysis, focus on
response at Key Structural Support, 74.30s-74s, was key in Wed's auction as
selling interest drove price to Major Structural Support, 73.30s, where buying
interest entered, developing Balance in spite of "bearish" EIA and
OPEC production cut conjecture. Focus on response to Balance, 73.30s-74.30s,
into Thu's holiday shortened Globex session. Price volatility may be
exacerbated due to holiday thin liquidity. OPEC announce Thu.
Wednesday's Auction
Central Banks
- After Leak, New Scrutiny Of Goldman's Ties To NY Fed. (NYT Dealbook)
- Fed Scrutiny On The Rise? (Bloomberg)
- China Loosens Further As PBOC Scraps Repo Sales. (Bloomberg)
Geopolitics
- Market Forces Catch Up To OPEC. (Marketplace)
- Russian Oil Minister To Meet With OPEC Leaders In Vienna. (Reuters)
- OPEC's "Easy Days" Of Setting Production Appear Over. (Bloomberg)
- US Senate Report Finds Goldman & JPMorgan Can Influence Commodities. (NYT Dealbook)
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| Source: EIA (Nov 2014) |
Supply/Demand & Markets
- +1.9mil v +550k exp. (Platts)
-
China's Oil Demand Rises 2.9% YoY In Oct. (Platts)