Economic Events: (GMT)
- This Week in PetroleumRelease Schedule: Wednesday @ 1:00 p.m. EST (schedule)
- Gasoline and Diesel Fuel UpdateRelease Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule)
- Weekly Petroleum Status ReportRelease 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 DataRelease Schedule: Wednesday at 1:00 p.m. EST
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- Natural Gas Weekly UpdateRelease Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
- Weekly Natural Gas Storage ReportRelease Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Crude Oil Fundamental Analysis February 27, 2012, Forecast
Analysis and Recommendations:
Crude Oil extended gains a seventh day and keeping at a nine-month high on ongoing worries over Iran and supply disruptions. 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 the stage. Crude is currently trading at 109.22. Crude-oil futures gained 1.5% in the previous session. An official at the International Monetary Fund said Thursday that a halt of Iran's oil exports to the Organization for Economic Cooperation and Development countries could trigger a 20% to 30% jump in prices.
The sale of new single-family homes in the U.S. fell slightly in January, but only because sales in December were revised higher. Taken together, sales in those two months were the strongest in a year, a good sign for a market that's been in a deep slump since the 2007-2009 recessions.
Consumer sentiment rose in February to the highest level in a year on strong awareness of improving employment, according to a gauge released Friday by the University of Michigan
Consumer sentiment rose to 75.3 in February from 75 in January, achieving a sixth month of improvement. Consumers' expectations rose to 70.3 from 69.1, while their views on current conditions declined to 83 from 84.2.
Crude Oil Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3