Daily Oil Report Monday 23rd November 2009

23 November 2009 @ 07:32 am EDT

The continued decline in the value of the US dollar pushed oil higher in the trading session. It will be interesting to note if we regain the $80 level, but whilst it is the dollar playing a major role, news emanating from the middle east is helping to underpin the price. Iranian defence moves may lead to escalated tensions in the region.

Crude Oil

COMMODITY

LEVEL

CHANGE
ICE WTI - JAN 10

$78.36

+$0.92
GASOIL - JAN 10

$630.75

+$9.25

Market News

- Weekly crude inventories are scheduled to be released on Wednesday, ahead of the Thanksgiving holiday on Thursday

- The BBC website has claimed that Iran have started five days of large scale war games aimed at defending their nuclear sites

- Iraqi officials told the Associated Press that insurgent attacks led to a 4% drop in oil exports in October

Major Economic News

TIME

MARKET DATA

1500

US Existing Home Sales
   

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