by Bill McBride on 3/09/2016 07:27:00 PM
Wednesday, March 09, 2016
Brent oil prices closed above $40 today according to Bloomberg. WTI futures closed at $38.21.
From Reuters: U.S. crude hits three-month high on gasoline drawdown, OPEC speculation
Oil prices rose as much as 5 percent on Wednesday, with U.S. crude hitting three-month highs after a big gasoline inventory drawdown amid improving demand overshadowed growing record high crude stockpiles.Thursday:
Speculation that top producers might agree soon to an output freeze also supported crude oil.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for 275 thousand initial claims, down from 278 thousand the previous week.
• At 10:00 AM, the Q4 Quarterly Services Report from the Census Bureau.
• At 12:00 PM, Q4 Flow of Funds Accounts of the United States from the Federal Reserve.
• At 2:00 PM, The Monthly Treasury Budget Statement for February.
Posted by Bill McBride on 3/09/2016 07:27:00 PM