Crude & Brent Oil Fundamental – November 18, 2015 – Forecast

Analysis and Recommendations:

Crude Oil dipped another 16 cents as continued supply worries weigh on the markets. Even though data from OPEC show a drop in production, Russia, Iraq and ISIS are more than covering the short falls. Brent Oil added 17 cents as France and its allies bombs Syrian oil pumps held by ISIS.

Oil prices rose in volatile trade on Tuesday, as markets weighed the continuing oversupply of crude against the increased geopolitical uncertainty following the Paris terror attacks.

Still, despite the French airstrikes against Islamic State’s stronghold in Syria following Friday’s attacks, analysts said the increased risks are unlikely to disrupt production. Oil prices have been depressed for more than a year as ample supplies around the globe were met by tepid demand for crude. While some producers like the U.S. have cut back on their output in recent months, others like Saudi Arabia and Russia have continued to pump crude at a high pace in a bid to defend their share of the market.

A rise in U.S. oil stockpiles seen in recent weeks is unlikely to change this week due to the continuing refinery maintenance season. The American Petroleum Institute, an industry group, will report its stockpiles data later in the day, followed by the official report by the U.S. Energy Information Administration on Wednesday.

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
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Weekly Petroleum Status Report
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Today’s economic releases:

 

Upcoming Economic Events that you should be monitoring:

Wednesday, November 18, 2015

Government Bond Auctions

Date Time Country

Nov 18 11:30 Germany New Eur 5bn Dec 2017 Schatz

Nov 18 11:30 UK 2% 2025 Gilt auction

Nov 18 11:30 Portugal Eur 1-1.25bn; bond auction

Nov 18 16:30 Sweden Announces details of Bond on 25 Nov

Nov 18 N/A Holland Announces details of Bond on 24 Nov

Nov 19 10:30 Spain 0.25% Apr 2018 Bono, 1.15% Jul 2020 Bono, 5.4% Jan 2023

Nov 19 10:50 France Eur 7-8bn; 4.25% Oct 2018 OAT, 0.25% Nov 2020 OAT, 2.25%

Nov 19 11:50 France Eur 1-1.5bn; 0.25% Jul 2024, 1.85% Jul 2027, 3.15% Jul 2032

Nov 19 N/A US Holds 10-year TIPS auction

Nov 20 16:30 Italy Announces details of CTZ/BTPei on 25 Nov

Nov 23 12:00 Belgium Auctions OLOs

Nov 23 N/A US Holds 2-year note auction

Nov 24 17:30 Italy Announces details of BTPs/CCTeu on 27 Nov

Nov 24 N/A Holland Eur 1.0-2.0bn 0.25% Jul 2025 DSL

Nov 24 N/A US Holds 5-year note auction

Nov 25 11:03 Sweden Holds bond auction

Nov 25 11:10 Italy Auctions CTZ/BTPei

Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund

Nov 25 N/A US Holds 2-year FRN auction

Nov 25 N/A US Holds 7-year note auction

Nov 26 11:03 Sweden Holds bond auction

Nov 27 11:03 Sweden Holds bond auction

Nov 27 11:10 Italy Auctions BTPs/CCTeus