Crude & Brent Oil Fundamental Analysis – August 14, 2015 – Forecast

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Updated: Aug 13, 2015, 11:29 UTC

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 & Brent Oil Fundamental Analysis – August 14, 2015 - Forecast

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 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