Crude Oil Fundamental Analysis March 6, 2012, Forecast
Analysis and Recommendations:
Crude Oil is available at 106.78, opening today at 106.54. Oil slid around all day staying in a tight range as negative and positive news balanced each side off. The ongoing worries from Iran, matched the news from China, where Premier Wen Jiabao, in his annual state-of-the nation report to China’s parliament, reduce growth for 2012 of 7.5 percent. That would be the slowest pace of expansion since 1990 and well down on last year’s 9.2 percent growth rate. Lower growth, lower demand on oil. Continuing worries over the final Greek outcome continues to worry investors.
President Obama, in his strongest comments so far over the Iranian situation, came out and said directly that he would not hesitate to attack Iran before he would allow them to arm themselves with nuclear weapons.
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