Crude Oil Weekly Outlook for March 28, 2011 – April 01, 2011

Oil prices continued to rise over the past week amid the current tensions in the Middle East and North Africa, where despite the no-fly zone imposed on Libya by the U.S. Security Council However, the situation has not diminished, however, where Colonel Muammar Gaddafi is resisting calls to resign.
Oil supplies from Libya appears to have stopped, and although OPEC members increased their production to compensate for the shortage of oil supplies from Libya, however, traders and investors remained concerned that OPEC not be able to compensate for any shortage of the offer, as the situation in the Middle East continue to explode, where protesters in Yemen and are asking President Ali Abdullah Saleh to step down.
Meanwhile, the situation in Japan seems to have declined markedly after the devastating earthquake and tsunami that caused massive destruction of several nuclear reactors, but as efforts continue to contain the crisis, investors focused their attention on the evolution of the entire world, including European debt crisis and the crisis in the Middle East.
In addition, this next week we have important economic news of the United States, where earnings report will be released Monday at 12:30, while the employment report will be released on Friday also at 12:30, so U.S. to expect to take center stage, where data from the sectors of housing and manufacturing will also be launched during the week.
Wednesday, 14:30. The Energy Department will release weekly oil situation in the week ending March 18, when the report showed crude inventories rose by 2.1 million barrels.

(Source: http://www.benzinga.com/11/03/954183/crude-oil-weekly-outlook-for-march-28-2011-%E2%80%93-april-01-2011)