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
- Weekly Coal ProductionRelease Schedule: Thursday by 5:00 p.m. EST
- Weekly NYMEX Coal FuturesRelease Schedule: Monday by 5:00 p.m. EST
- Coal News & MarketsRelease Schedule: Monday by 5:00 p.m. EST
- 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 March 2, 2012, Forecast
Analysis and Recommendations:
Crude Oil gained Thursday, starting March on a mildly positive note, cheering news that manufacturing in China expanded. Oil is trading at 108.30
China's manufacturing gained momentum; helped by strength in new orders, export demand and production, though inflation pressures remain a concern, according to a survey released on Thursday.
The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index, or PMI, rose 0.5 points to 51.0 from January's 50.5 and December's figure of 50.3 in a third straight month of steady improvement.
A higher-than-expected increase in U.S. inventories also added some pressure to oil prices on Wednesday.
Continued geopolitical worries continues to support crude prices, although the noise from Iran has subsided a bit, the US continues to exert pressures, which will see Iran retaliate. The markets continue to keep a close eye, although Saudi Arabia and the OPEC nations have assured the US and EU that they will make up any short falls.
March 1, 2012 Economic Releases actual v. forecast
Nationwide HPI (MoM)
French Manufacturing PMI
German Manufacturing PMI
Polish GDP (YoY)
Core PCE Price Index (MoM)
Personal Spending (MoM)
Initial Jobless Claims
Continuing Jobless Claims
ISM Manufacturing Index
Sovereign Bond Auction Schedule
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
Crude Oil Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3