Economic Events: (GMT)
WEEKLY
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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
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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)
Crude Oil Fundamental Analysis February 7, 2012, Forecast
Analysis and Recommendations:
Crude Oil is currently trading 97.17 down from 97.84.
The USD surged on Monday on worried about Greece.
News from Greece was not promising. Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank recapitalization. There cannot be a new program for Greece unless the conditions of the troika are met,” Merkel said at a joint press conference here with Sarkozy, referring to the European Commission, the International Monetary Fund and the European Central Bank
A higher dollar is a negative for oil and other dollar-denominated commodities as it makes them more expensive for holders of other currencies.
An easing of tensions with Iran also weakened the demand for oil.
Economic Data results prior trading day (key better than expected worse than expected at forecast)
AUD MI Inflation Gauge (MoM) 0.2% 0.5%
AUD Retail Sales (MoM) -0.1% 0.2% 0.1%
AUD ANZ Job Advertisements (MoM) 6.00% -0.60%
IDR Indonesian GDP (YoY) 6.5% 6.5% 6.5%
TWD Taiwanese CPI (YoY) 2.4% 1.6% 2.0%
EUR Sentix Investor Confidence -11.1 -14.6 -21.1
EUR German Factory Orders (MoM) 1.7% 0.5% -4.9%
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