Crude Oil Fundamental Analysis December 21, 2012, Forecast

Analysis and Recommendations:

Crude Oil is trading at 89.84 off by 14 cents. Crude has remained strong since yesterday when the EIA showed a slightly larger drop in inventory than expected. A weak US dollar also helped buying opportunities. The additional easing in Japan means more productions and infrastructure projects which also supports crude oil. Traders seemed to become risk adverse once again after a few days of positive sentiment, as the fiscal train wreck moves closer. Trading is becoming thinned ahead of the holidays.

Slow economic growth and ample supplies are expected to keep a lid on oil next year with crude prices gradually slipping lower. But analysts polled by Reuters say a price crash is unlikely and geopolitical concerns should help support the market. While geopolitical concerns in the Middle East still remain at the forefront, concerns about the United States going over the ‘fiscal cliff’ and the euro area potentially slipping back into recession could have more dire consequences for crude oil demand for the first half of 2013.

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.

Economic Data December 20, 2012 actual v. forecast

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. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auction

Date Time Country 

Dec 21 16:30 Italy  

Dec 26 01:30 Japan 

Dec 27 10:10 Italy  

Dec 28 10:10 Italy