CL Redux

http://af.reuters.com/article/commoditiesNews/idAFL3E7FB29U20110413

* Goldman Sachs expects Brent crude to fall towards $105 in
coming months, according to a note e-mailed to clients, after
recommending on Monday that they close trades on a basket of
commodities that include U.S. crude. [ID:nN12164096]
[ID:nLDE73B02E]

* Top oil exporter Saudi Arabia has quietly cut production
by around 500,000 barrels per day (bpd), two Saudi-based
industry sources said, from its output increase in March when it
offset lost Libyan crude. [ID:nLDE73B1J0]

* Saudi Arabia is ready to sell more of its new crude oil
blend in the coming months if demand is there, and it will be
available on the spot market, a market source said on Tuesday.
[ID:nLDE73B0MM]

* Qatar confirmed on Tuesday that it was marketing Libyan
crude oil and buying fuel on behalf of the rebels trying to
overthrow Muammar Gaddafi, throwing a vital lifeline to the
embattled anti-government forces. [ID:nN12189914]

* High petroleum prices will cut into global oil demand but
not until next year, the U.S. government's energy forecasting
agency said on Tuesday. [ID:nN12189731]

* High oil prices are beginning to put the brakes on the
rapid pace of global economic growth and erode demand for fuel,
the International Energy Agency said on Tuesday in a report that
added to a steep selloff in crude oil prices. [ID:nLDE73B0MO]

* U.S. crude inventories rose last week and oil product
stocks fell as U.S. refinery utilisation unexpectedly plunged,
data from the American Petroleum Institute (API) showed on
Tuesday. [ID:nN12198058]

* Russia's Gazprom is talking to Shell (RDSa.L: Quote)
about joining the Anglo-Dutch major's foreign oil and gas
projects and sending more liquefied natural gas from the
companies' Far-East Sakhalin venture to Japan. [ID:nLDE73B1VG]
 
Wednesday, April 13, 2011

7:00 AM ET. Apr 8 MBA Mortgage Applications Survey

Market Composite Index (previous 475.7)

Market Composite Index Cur Chg (previous -2%)

Purchase Index (S.A.) (previous 201.2)

Purchase Index (S.A.) Cur Chg (previous +6.7%)

Refinance Index (previous 2084.1)

Refinance Index Cur Chg (previous -6.2%)

8:30 AM ET. Mar Advance Sales for Retail & Food Services

Overall Sales (expected +0.5%; previous +1%)

Sales, Ex-Auto (expected +0.7%; previous +0.7%)

10:00 AM ET. Feb Manufacturing & Trade: Inventories & Sales

Total Inventories (expected +0.7%; previous +0.9%)

10:30 AM ET. Apr 8 EIA Petroleum Status Report

Crude Oil Stocks (previous 357.66M)

Crude Oil Stocks (Net Change) (previous +1.95M)

Gasoline Stocks (previous 216.68M)

Gasoline Stocks (Net Change) (previous -0.36M)

Distillate Stocks (previous 153.52M)

Distillate Stocks (Net Change) (previous +0.2M)

Refinery Usage (previous 84.4%)

Total Products Supplied (previous 19.18M)

Total Products Supplied (Net Change) (previous +0.58M)

10:30 AM ET. U.S. Federal Reserve Beige Book
 
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