By FXEmpire.com

Analysis and Recommendations:

Crude Oil has moved back up; almost equal the close on Wednesday. Crude is currently trading at 106.88 up about 1.45.

Currently enough crude oil in the global market to meet every buyer’s needs, IEA chief says — Saudi Arabia, other countries could step in to meet higher demand, she says — Impact of sanctions against Iran’s oil exports is hard to predict, she says

Crude-oil prices climb Friday, buoyed by concerns over global supplies following a report of a drop in Iranian oil exports as traders digested the week’s economic data, searching for hints on the prospects for oil demand.

Human rights sanctions extended for a year, 17 people added to list — Ministers sign off on January’s oil embargo, and central bank sanctions — Sweden’s Bildt said must give nuclear talks a chance to succeed BRUSSELS — European Union foreign ministers agreed.

If Oil continues to hold at this level, the Obama Administration will be forced to take measures. Obama has been traveling the US pushing his energy policies, but has said that the high cost of oil, is having a negative effect on the US economy.

Economic Events: (GMT)

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)
  • Heating Oil & Propane Update (October-March)
    Heating Oil, Propane Residential and Wholesale Price Data
    Release Schedule: Wednesday at 1:00 p.m. EST
  • Weekly Coal Production
    Release Schedule: Thursday by 5:00 p.m. EST
  • Weekly NYMEX Coal Futures
    Release Schedule: Monday by 5:00 p.m. EST
  • Coal News & Markets
    Release Schedule: Monday by 5:00 p.m. EST
  • Natural Gas Weekly Update
    Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
  • Weekly Natural Gas Storage Report
    Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)

Originally posted here