Crude Oil Fundamental Analysis for April 15, 2011

Crude oil prices rose on Thursday due to the weakness of the U.S. dollar, where disappointing data from the United States pushed oil prices to climb back above $107 a barrel.

Moreover, the weakness of the U.S. dollar prompted crude oil prices to rise, however, we still believe that oil prices will undergo a correction over the short term, especially since the situation in the Middle East and North Africa is still the same without any essential change.

Friday 12:30, the consumer price index will be released for March, where CPI is expected to have continued to rise amid rising energy prices, as the report is expected to show that headline CPI increased by 0.5% on monthly basis, and by 2.6% on yearly basis, while core CPI is expected to increase by 0.2% on monthly basis, and 1.2% on yearly basis.

(Source: http://www.commoditiesmansion.com/fundamental-analysis/crude-oil-fundamental-analysis-for-april-15-2011/)