Scribd Logo
Upload

Welcome to Scribd!

  • 15 views

    Profit Commodity Daily

    Uploaded by

    sreelu42
    We have the DOE petroleum inventory data from the US, which we believe will show a good of amount surge in stockpiles. So for the day, we hold a bearish view on oil. There are no major data due today. http://www.profitkrishna.com

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    Profit Commodity Daily

    Uploaded by

    sreelu42
    15 views1 page
    We have the DOE petroleum inventory data from the US, which we believe will show a good of amount surge in stockpiles. So for the day, we hold a bearish view on oil. There are no major data due today. http://www.profitkrishna.com

    Original Title

    Copy of Profit Commodity Daily

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    We have the DOE petroleum inventory data from the US, which we believe will show a good of amount surge in stockpiles. So for the day, we hold a bearish view on oil. There are no major data due today. http://www.profitkrishna.com

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views1 page

    Profit Commodity Daily

    Uploaded by

    sreelu42
    We have the DOE petroleum inventory data from the US, which we believe will show a good of amount surge in stockpiles. So for the day, we hold a bearish view on oil. There are no major data due today. http://www.profitkrishna.com

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    DoE Data and Analysis of Commodity Advisory Services

    Crude oil during late evening trade on Tuesday, the private sector major API released its weekly inventory report. The inventory number showed that crude stocks rose by 2.63 million barrels for the week ended 7th March and were higher than expected. In product-related stocks, distillate stocks fell by just 839,000 barrels, though some support came from the gasoline front, where inventories dropped 2.15 million barrels. In the more important report due this evening from the DoE, we might see crude supplies adding by around 2 million barrels, a Bloomberg survey shows. However, after looking at the API data, we feel there is a chance for higher addition in crude supplies possible today. Traders would also closely watch the refinery utilization rate which usually sees a decline during this time of the year. In the other stocks factor at Cushing, the delivery point for the WTI stocks fell by over a million barrels as per the API number. From the DoE data last week, stocks slipped by 2.66 million barrels in to a near two year low of 32 million for week ended February 28. We feel stocks would continue to show a fall in Cushing stocks. Nevertheless, traders should take note of movement in gulf stocks which increasing continuously and particularly since the Cushing supplies have increased. Overall we have been maintaining a broad bearish bias into the commodity for last couple of days and nothing has changed with regards to the broader cues for the commodity today. While the API inventory report was mixed, we are not expecting any positivism out of the DoE report tonight. While global markets activity continues to be cautious due to weakness in China, we feel crude also would remain subdued globally. Only risk remains is something negative happening in Ukraine. However, till that time at least, we would continue to recommend selling in the commodity Global market analysis: There are a few essential events that are currently playing out in the whole financial markets which cannot be disregarded. A) The continuous Russia-Ukraine tensions B) The Chinese economic slowdown affecting the whole world. We believe that these events are in some way having a very strong influence on the markets. From the energy front, crude oil has come back down below $100 and this morning is trading at $99.42 for the WTI benchmarked April futures contract at NYMEX. We believe that the higher crude stockpiles and Chinese concerns are pulling the commodity down and, it is likely that it may remain lower for the day. We have the DOE petroleum inventory data from the US, which we believe will show a good of amount surge in stockpiles. So for the day, we hold a bearish view on oil. There are no major data due today. Commodity Advisory Services SELL NATURAL GAS MCX MAR BELOW 280 SL 284.5 TGT 275 Today Economic Data Indicators:
    DATE TIME Region Indicator Period Survey Prior

    12.03.14 12.03.14 12.03.14 12.03.14 12.03.14 12.03.14 12.03.14 12.03.14 12.03.14

    05:20 05:20 15:00 15:30 15:30 16:30 17:30 17:30 23:30

    GE JN JN UK EC EC US IN IN

    Wholesale Price Index YoY Tertiary Industry Index MoM Consumer Confidence Index Trade Balance Industrial Production SA MoM Industrial Production WDA YoY MBA Mortgage Applications Industrial Production YoY CPI YoY

    Feb Jan Feb Jan Jan Jan Mar-07 Jan Feb

    --0.6% 40.0 Yen2300 0.5% 1.9% ---0.9% 8.3%

    -1.7% -0.4% 40.5 Yen1026 -0.7% 0.5% 9.4% -0.6% 8.8%

    You might also like