Crude Oil Fundamental Analysis June 21, 2012, Forecast

Analysis and Recommendations:

Crude Oil is trading down at 82.91. It should be noted that there is one important event still to come, but not until late in the day and that is the FOMC announcement and address by Chairman Bernanke.

The EIA inventory, surprised markets today as investors thought that we would see higher consumption and a drop in supply. The release today stated:

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve)  increased  by  2.9 million barrels from the previous week. At 387.3 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 0.9 million barrels last week and are in the lower limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Total commercial petroleum inventories increased by 11.1 million barrels last week.

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 for June 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
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