Crude Oil Fundamental December 18, 2012, Forecast

Analysis and Recommendations:

Crude Oil gained a few cents today to trade at 87.53. U.S. crude was supported by hopes for higher Chinese demand, but gains were capped by concern about the risk of the U.S. stumbling into a recession in the absence of a deal to stop mandated tax rises. Uncertainty and turmoil in the Middle East also supported oil prices, with investors concerned about the potential for supply disruption in the region. The conflict in Syria threatens further instability in the Middle East and North Africa after a wave of uprisings since last year, including one in Libya that almost entirely cut crude exports from the North African producer. China will consume 9.9 million barrels a day of oil, 115,000 more than previously projected, in the last three months of this year, the International Energy Agency said in a Dec. 12 monthly report.

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 17, 2012 actual v. forecast

 

WEEKLY

• This Week in Petroleum
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• 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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Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Government Bond Auction

Date Time Country 

Dec 18 01:30 Japan 

Dec 18 09:30 Spain 

Dec 18 10:10 Greece 

Dec 18 18:00 US 

Dec 19 18:00 US 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy