Crude Oil Fundamental Analysis April 10, 2012, Forecast

By FXEmpire.com

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

• 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