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Heating Oil, Propane Residential and Wholesale Price Data
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Crude Oil Fundamental Analysis February 28, 2012, Forecast
Analysis and Recommendations:
Crude Oil is currently trading at 108.92 after hitting resistance and falling from 109.76. As the US eyed releasing some of the Strategic Reserves and Saudi Arabia again stated that they would make up any shortage in production, and have already begun increasing. On Friday crude closed above $109 a barrel, extending gains to a seventh session and posting a weekly rise of 6% on ongoing concerns about supply disruptions.
The close was also oil’s highest since May 3, when oil closed at $111.05 a barrel. Prices hit $113.93 a barrel on April 29, a 52-week high, as concerns about geopolitical tensions in the Middle East had also taken center stage. Crude oil is up 11% so far this month on the geopolitical worries between Iran and Israel and the continued mounting tension, along with the Islamic nation stopping oil shipments to France and other EU nations, prior to the embargo effective date. Most countries have already made alternative arrangements, so this rise is only on a supply disruption and should subside quickly.
Today’s economic releases actual v. forecast
| EUR | French PPI (MoM) | 0.6% | 0.3% | -0.1% | |
| EUR | M3 Money Supply (YoY) | 2.5% | 1.8% | 1.5% | |
| EUR | Private Loans (YoY) | 1.1% | 1.2% | 1.0% | |
| EUR | Italian Business Confidence | 91.5 | 92.0 | 92.1 | |
Sovereign Bond Auction Schedule
Feb 28 01:30 Japan Auctions 2Y JGBs
Feb 28 10:10 Italy BTP/CCTeu auction
Feb 28 10:30 Belgium Auctions 3 & 6M T-bills
Feb 28 15:30 UK Details gilt auctions on Mar 06 & Mar 07
Feb 29 10:10 Sweden Auctions T-bills
Feb 29 10:30 Germany Eur 4.0bn 2.0% Jan 2022 Bund
Feb 29 15:30 Sweden Details nominal bond auction on Mar 07
Mar 01 09:30 Spain Bono auction
Mar 01 09:50 France OAT auction
Mar 01 10.30 UK Auctions 4.0% 2022 conventional Gilt
Originally posted here
