By FXEmpire.com

Crude Oil Fundamental Analysis April 10, 2012, Forecast

Crude Oil Fundamental Analysis April 10, 2012, Forecast

Analysis and Recommendations:

Crude Oil tumbled sharply on Monday, hit by a disappointing report on U.S. employment late last week and ahead of international talks over Iran’s nuclear program. The multination summit is set for April 13, 2012. Investors remain concerned with the high inventory and lowered demand.

Crude-oil fell $1.90, or 1.8%, to $101.41 a barrel in the New York Mercantile Exchange.

The market reopened Monday after being closed for the Good Friday holiday. On Thursday, oil rose $1.84, or 1.8%, to settle at $103.31.

Doubts about the strength of the U.S. economic recovery crept into oil markets after data from the Labor Department on Friday showed 120,000 jobs were generated in March. That fell short of expectations for a gain of 210,000.

Economic Events: (GMT)

WEEKLY

Originally posted here