WTI 21Dec

Monday's Auction

via The Daily 

As noted in Fri's analysis, the focus into Mon's auction on continued response to Composite Cluster Low, 35s-36s, was key as narrow rotational trade developed there as the holiday-shortened week began. Focus into Tue's auction on response to the Composite Cluster Low, 35.20-35.70s, within the context of a D shape distribution from Mon's auction.

Week In Review 20Dec

13-18Dec Auction

via The Daily

Central Banks

• FOMC Statement. (Federal Reserve)
• Brief History Of US Inflation, 1775-2015. (WSJ)
• What The Fed Rate Hike Means. (Paul Craig Roberts)

Geopolitics

• Russia Boosts Oil Sales In Asia As OPEC Stalls. (Reuters)
• Spending Bill To Lift Export Ban. (The Hill)
• NATO Defense Cuts To End Aid Security Concerns. (Telegraph)
• UN Climate Change Conference: Turning Point For Energy? (Wood Mackenzie)

Supply/Demand & Markets

• Cheap Oil Forces SWFs To Retreat. (Reuters)
• With Oil Hedges Rolling Off, Shale Producers Face Test. (Reuters)

WTI 18Dec

Friday's Auction

via The Daily 

As noted in Thu's analysis, the focus into Fri's auction on response to Thu's Cluster, 36s-36.40s, was key as both initiative sell and buy programs emerged around the Key Composite Cluster Support Area, 36s-36.40s. Focus into Mon's auction on continued response to Composite Cluster Low, 35s-36s. 

WTI 17Dec

Thursday's Auction

via The Daily 

As noted in Wed's analysis, the focus into Thu's auction on response to 35.30s-35.60s, near the Composite Cluster Low was key as buying interest emerged there, driving price higher toward the Avg Daily Range High as the Jan-Feb contract roll developed. Focus into Fri's auction on response to Thu's Cluster, 36s-36.40s.

WTI 16Dec

Wednesday's Auction

via The Daily

As noted in Tue's analysis, the focus into Wed's auction on response to 37.90s-37.40s, was key as selling interest emerged near there, driving price lower toward the Daily 2nd Std Dev Low. Focus into Thu's auction on response to 35.30s-35.60s, near the Composite Cluster Low. 

WTI 15Dec

Tuesday's Auction

via The Daily 

As noted in Mon's analysis, the focus into Tue's auction on response to Tue Supply Cluster, 36s-36.70s, was key as price discovery higher toward the Avg Daily Range High developed. Focus into Wed's auction on response to 37.90s-37.40s.

WTI 14Dec

Monday's Auction

via The Daily

As noted in Fri's analysis, the focus into Mon's auction on response to the Breakdown Point/Prior Support, 36.60s, was key only after price discovery lower developed toward 34.50s, where buying interest emerged driving price higher toward 36.70s toward the NY close. Focus into Tue's auction on response to Key Supply Cluster, 36s-36.70s.

Week In Review 13Dec

06-11Dec Auction

via The Daily

Central Banks

• Fed Guide To Rate Hike. (Reuters)
• Oil Slump Means BOE Will Keep Rates Lower For Longer. (Telegraph)
• Who Are Non-Banks & Why Are They Important? (Marius Jurgilas via BIS)

Geopolitics

• IMF Forgives Ukraine's Debt TO Russia. (Zerohedge)
• Yamani Legacy Haunts Oil Market. (John Kemp via Reuters)
• Hearing To Examine Terrorism & Global Oil Markets. (US Senate Committee On Energy) 

Supply/Demand & Markets

• EIA: -3.6mil. (EIA)
• Low Oil Prices Are Undermining Currencies In Oil-Producing Countries. (Energy Fuse)
• Cost Efficiency In Upstream Oil & Gas. (Wood Mackenzie)
• Billions Of Barrels Of Oil Vanish In Accounting Smoke. (Bloomberg)

WTI 11Dec

Friday's Auction

via The Daily

As noted in Thu's analysis, the focus into Fri's auction on response to Key Structural Support,36.60s, was key as selling interest drove price lower toward the Avg Daily Range Low. Focus into Mon's auction on response to the Breakdown Point/Prior Support, 36.60s.

WTI Gap Lower Opens 
via The Daily

Friday's auction saw a Structural Gap Lower open. Based on the market generated data, this structure implied asymmetric potential for lower prices. The market ultimately traded toward the Avg Daily Range Low, consistent with market logic.

WTI 10Dec

Thursday's Auction

via The Daily

As noted in Wed's analysis, the focus intoThu's auction on response to the developing Cluster, 37.15s-38.15s, was key as balance development continued. Focus into Fri's auction on response to Key Structural Support.

WTI 09Dec

Wednesday's Auction

via The Daily

As noted in Tue's analysis, the focus into Wed's auction on response  to 37.50s-38s, was key as two-sided trade unfolded there as both initiative buying and selling attempts were absorbed. Focus into Thu's auction on response to the developing Cluster, 37.15s-38.15s.  

WTI 08Dec

Wednesday's Auction

via The Daily

As noted in Mon's analysis, the focus into Tue's auction on response to Mon's Unsecured Low, 37.50s, was key as selling interest emerged, driving price lower toward 36.63s, where buying interest emerged in short covering inventory adjustment toward 38.60s. Focus into Wed's auction on response  to 37.50s-38s. 

WTI 07Dec

Monday's Auction

via The Daily

As noted in Fri's analysis, the focus into Mon's auction on response to developing Balance, 39.60s-40.50s, was key as selling interest emerged, driving price lower toward the Daily 2nd Std Dev Low near Major Structural Support, 37s. Focus into Tue's auction on response to Mon's Unsecured Low, 37.50s.

WTI Gap Lower Opens 
via The Daily

Monday's auction saw a Structural Gap Lower open. Based on the market generated data, this structure implied asymmetric potential for lower prices. The market ultimately traded beyond the Daily 2nd Std Dev Low, near the Major Structural Support, 37.70s, consistent with market logic.