Crude Oil October 2013
Expiry day
Product Calendar for Light Sweet Crude Oil Futures
| Contract Month | Product Code |
First Trade
Last Trade
| Settlement |
First Holding
Last Holding
|
First Position
Last Position
|
First Notice
Last Notice
|
First Delivery
Last Delivery
|
|---|---|---|---|---|---|---|---|
| OCT 2013 | CLV13 |
11/19/2007
09/20/2013
| 09/20/2013 |
-
-
|
09/23/2013
09/23/2013
|
09/24/2013
09/24/2013
|
10/01/2013
10/31/2013
|
NEW YORK, Sept 9 (Reuters):
Buying
of oil and safe-haven flows to gold dried up as President Barack Obama has met
resistance in the U.S. Congress to his call for U.S. military action in Syria.
Investors grew less worried about the risk of further oil supply disruption in
the Middle East. Brent crude oil prices sank over 2% and U.S. crude futures
settled 0.91% lower. U.S. Secretary of State John Kerry suggested Damascus
could avert U.S. strikes by handing over chemical weapons. Russia seized on his
remarks and made a similar suggestion.
* U.S. commercial crude oil and gasoline inventories likely
fell last week, while distillate stocks may have risen, an initial Reuters poll
of analysts showed. Industry group American Petroleum Institute will release
its weekly inventory report on Tuesday and the U.S. Energy Information
Administration will issue its own stockpile data on Wednesday.
SINGAPORE,
Sept 10 (Reuters) - U.S. crude oil futures fell more than a dollar to below
$109 a barrel on Tuesday as supply fears eased after Russia offered to help put
Syria's chemical weapons under international control, easing fears of an
imminent strike against the country.
West
Texas Intermediate oil rose to more than two-year highs above $112 in late
August on concerns that a possible U.S.-led military strike against Syria may
disrupt supplies from the Middle East.
FUNDAMENTALS
* U.S.
crude for October delivery fell as low as $108.21 a barrel in early Tuesday
deals. By 0037 GMT, it was down 90 cents at $108.62.
* Brent
oil dropped 88 cents to $112.84 per barrel. It fell 2.1 percent on Monday, its
steepest single-day decline since June 20.
* The
White House will closely examine Russia's offer to work with Syria to put its
chemical weapons under international control but the U.S. Congress should still
back military action to keep pressure on Damascus, a top aide said.
* U.S.
President Barack Obama, who said the Russian plan could potentially be a
significantly breakthrough, is slated to address the American people on Tuesday
night and is due to speak to lawmakers during the day.
* The euro held firm against the U.S. dollar as risk appetite
ticked up after a Russian proposal on Syria raised the chance that a U.S.
military strike would be delayed or averted.
Today's DATA/EVENTS (GMT)
0530
China Industrial output
0530
China Retail sales
0530
China Urban investment
0645
France Industrial output
1130
U.S. NFIB business optimism
1145
U.S. ICSC weekly chain store sales
2030
U.S. API weekly crude stocks
October WTI Crude Oil continues to show an extreme bullish COT profile across all COT data with the only exception being bearish levels of Commercial shorting. Extreme levels of Large Spec buying and Open Interest suggest an all in position for big players but little to none Smart money or Commercial interest
We expect a bullish overall
direction for today. That requires the base to build on
direction for today. That requires the base to build on
(106.05); targeting (108.40) then (109.85). A break
Below (106.05) Pivot area will extend losses to
Below (106.05) Pivot area will extend losses to
Recommend:pivot: 106.05
Entry: Long position above 106.05
Targets: 107.25, 108.40 then 109.85 in extension
Stop: below 105.32
Alternative scenario: a break below 105.32
will put 104.60 where Re-entry Long
if first position done it stop loss
*********************************************
Currency Strategist/ Yehia Noo®
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