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Crude & Brent Oil Fundamental Analysis – August 14, 2015 – Forecast
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Analysis and Recommendations: Crude Oil held gains to trade at 43.48 up by 19 cents but is expected to reverse course as the markets allow the dust to
Crude Oil held gains to trade at 43.48 up by 19 cents but is expected to reverse course as the markets allow the dust to settle. Brent Oil was up 51 cents at 50.69 and should fall as Saudi Arabia is committed to producing record amounts of oil this month. Strong signs for demand helped oil bounce and sent gasoline prices soaring Wednesday.
Demand for crude is increasing at its fastest pace in five years, the International Energy Agency said in its closely watched market report. The report helped calm fears of sluggish demand that had pushed U.S. oil to its lowest settlement in six years on Tuesday.
Gasoline stockpiles in the U.S. fell at a much faster rate than expected last week, the U.S. Energy Information Administration said. BP PLC is also taking down its largest unit at the Whiting, Ind., refinery for about a month, tightening gasoline markets in the Midwest, analysts and a broker say.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
WEEKLY
This Week in Petroleum
Release Schedule: Wednesday @ 1:00 p.m. EST (schedule)
Gasoline and Diesel Fuel Update
Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule)
Weekly Petroleum Status Report
Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday.
Today’s economic releases:
|
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
Business NZ PMI (Jul) |
53.5 |
|
55.2 |
|
||
|
GBP |
RICS House Price Balance (Jul) |
44% |
42% |
40% |
|
||
|
AUD |
RBA Assist Gov Kent Speaks |
|
|
|
|
||
|
EUR |
German CPI (MoM) (Jul) |
0.2% |
0.2% |
0.2% |
|
||
|
EUR |
Spanish CPI (YoY) (Jul) |
0.1% |
0.1% |
0.1% |
|
||
|
EUR |
Spanish HICP (YoY) (Jul) |
0.0% |
-0.1% |
-0.1% |
|
||
|
CHF |
PPI (MoM) (Jul) |
-0.3% |
-0.2% |
-0.1% |
|
||
|
EUR |
Account of Monetary Policy Meeting |
|
|
|
|
Upcoming Economic Events that you should be monitoring:
Friday, August 14, 2015
|
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
NZD |
Core Retail Sales (QoQ) |
|
0.7% |
2.9% |
|
||
|
EUR |
German GDP (QoQ) (Q2) |
|
0.5% |
0.3% |
|
||
|
EUR |
Core CPI (YoY) (Jul) |
|
1.0% |
1.0% |
|
||
|
EUR |
CPI (MoM) (Jul) |
|
-0.6% |
0.0% |
|
||
|
EUR |
GDP (QoQ) (Q2) |
|
0.4% |
0.4% |
|
||
|
USD |
PPI (MoM) (Jul) |
|
0.1% |
0.4% |
|
||
|
CAD |
Manufacturing Sales (MoM) (Jun) |
|
2.1% |
0.1% |
|
||
|
USD |
Industrial Production (MoM) (Jul) |
|
0.3% |
0.3% |
|
||
|
USD |
Michigan Consumer Sentiment (Aug) |
|
93.5 |
93.1 |
Government Bond Auctions
Date Time Country
Aug 13 11:10 Italy Auctions BTPs/CCTeus
Aug 19 11:30 Germany Eur 5bn Sep 2017 Schatz
Aug 19 11:03 Sweden Holds bond auction
Aug 20 10:30 Spain Auctions Bonos/Obligaciones
Aug 20 11:30 UK Auctions 4.25% 2036 Gilt
Aug 21 17:30 Italy Announces details of CTZ/BTPei on 26 Aug
About the Author
Barry Normanauthor
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