List of important events to affect the trading of crude oil futures contract are as follows:

On Tuesday United States will report its new home sales index for the month of April and expect home sales to increase by 1.7 percent to 305,000 units as compared to prior forecast of 300,000 units.

On Wednesday United States will report its durable goods orders for the month of April which are expected to fall by 2 percent as compared to prior surge of 2.5 percent. House price index for the month of March will also be reported on Wednesday while The Department of Energy will publish the weekly petroleum status. The earlier report disclosed the decrease of 15,000 barrels in crude oil inventories.

On Thursday United States will report its second estimate for Gross Domestic Product index for the first quarter 2011. United States will also report core PCE which is expected to remain unchanged at 1.5 percent. Data on jobless claims will also be published in United States on Thursday.

On Friday income report will be released for the month of April in United States. It is expected that personal income will increase by 0.4 percent in the month of April as compared to surge of 0.5 percent in March. Moreover University of Michigan will publish data on consumer confidence for the month of May.

United States will also report its pending home sales index for the month of April which is expected to decrease by 1 percent as compared to increase of 5.1 percent in prior month.