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]
"The Budget Deal May Collapse" http://www.commentarymagazine.com/2011/04/12/government-shutdown-its-not-over-yet/ "The total amount actually cut appears to be somewhere between $8 and $14.7 billion."
"Crude Oil Trades Near Two-Week Low on Slowing Demand, Hope of Libya Truce" http://www.bloomberg.com/news/2011-...as-libyan-rebels-consider-truce-proposal.html
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