WTI Crude Daily 05Jun

Friday's Auction

As noted in Thu's analysis, the focus into Fri's auction on response to Thu's Unsecured Stopping Point Low, 57.83s, was key as selling interest entered during the Globex auction and again post OPEC data release, driving price lower to 56.83s before buying interest entered, driving price aggressively higher off the low toward the Avg Daily Range High. Focus into Mon's auction on response to Fri's Buy Spike, 58.25s-59.15s.