Share

Crude & Brent Oil Analysis Forecast, May 15, 2015 – Forecast

Analysis and Recommendations (Oil Forecast):

Crude Oil dipped 25 cents in the Asian session but is holding there at 60.25 while Brent Oil is flat at 67.25. Government data showed U.S. oil inventories fell 2.2 million barrels in the week to May 8, to below 485 million barrels. That was still almost 90 million barrels higher than this time last year.

No. 2 U.S. oil producing state North Dakota posted a surprising output hike in March, even when U.S. crude prices were around six-year lows, latest data showed.

Crude prices fell on Thursday after major U.S. oil producing state North Dakota posted a surprising output hike and ongoing high stocks were expected to weigh on import and production demand.

Despite a slight draw in overall stocks, government data showed that U.S. crude inventories of almost 485 million barrels were still nearly 90 million barrels higher than this time last year, implying low demand for domestic production as well as imports.

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information for Crude Oil in our weekly reports.

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.

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  NZD Business NZ PMI (Apr) 54.5
  NZD Core Retail Sales (QoQ) 2.9% 1.5% 1.9%
  NZD Retail Sales (QoQ) (Q1) 2.7% 1.5% 1.7%
  GBP RICS House Price Balance (Apr) 33% 22% 22%

 

Upcoming Economic Events that you should be monitoring:

Friday, May 15, 2015

Cur. Event Actual Forecast Previous
  JPY BoJ Governor Kuroda Speaks
  CHF PPI (MoM) (Apr) -0.1% 0.2%
  USD NY Empire State Manufacturing 5.00 -1.19
  CAD Foreign Securities Purchases 7.23B 9.27B
  CAD Manufacturing Sales (MoM) 1.2% -1.7%
  USD Industrial Production (MoM) 0.1% -0.6%
  USD Michigan Consumer 88.6 88.8

Government Bond Auctions

Date Time Country

May 18 09:30 Germany Eur 1.5bn 12M (May 2016) Bubills

May 18 10:00 Belgium Auctions OLOs

May 20 09:03 Sweden Holds bond auction

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

 

Crude analysis forecast

REGISTER WITH OUR FORUM AND POST AT LEAST ONE MESSAGE TO GET FREE SIGNALS

Leave a Comment