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• Exxon Mobil and Iraq Agree on Oil Development Payment
• Gold Technical Precious Metals (2012-03-12)
• Fundamental Oil Report (2012-03-12)

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Analysis and Recommendations:

Crude Oil is up as the week closes, trading at 107.39, Crude oil rallied on positive payroll numbers from the US and the ending of the Greece crisis, with the bond swap complete and final approval from the EU, now other matters can take center stage. There is no reason for oil to remain at this level, and all indications are that it will begin to fall.

Iraq has started crude oil exports from a new floating terminal at a rate ranging between 240,000-600,000 barrels a day, a senior Iraqi oil official said Friday. Iraq is currently exporting around 1.7 million barrels a day from the south, but it couldn't export some extra 150,000-200,000 barrels a day because of lack of export capacity in Basra oil terminals, Iraqi oil officials had said. Once this production is online, it should help offset any shortfalls from the embargo of Iran and also help reduce prices.

Economic Events: ( GMT )

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• This Week in Petroleum
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Crude Oil Pivot Points (Time Frame: 1 Day)

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