It is likely to be a busy day in the oil market, with the weekly inventory data scheduled to be released hours ahead of the FOMC interest rate decision. Analysts polled by Dow Jones Newswire expect crude oil inventories to fall by 1.7mn barrels. As we approach the year end, it is interesting to note that we have moved up from the $32 level, to trade as high as $82, but have pulled back sharply of late.

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Crude Oil

COMMODITYLEVELCHANGE
ICE BRENT CRUDE - JAN 10$72.75+$0.73
ICE WTI - JAN 10$71.24+$0.56
GASOIL - JAN 10$594+$4

Market News
- Last night's API release showed US crude inventories unexpectedly rose last week
- Weekly oil inventories are scheduled to be released at 1530 this afternoon
- State TV is reporting that Iran have tested medium range Sejil missiles

Major Economic News

TIMEMARKET DATA
1915FOMC Interest Rate Decision