Oil fell for the third consecutive trading session as a bigger than expected increase in crude supplies was recorded by the Energy Information Administration. Crude supplies rose by 3.7mn barrels in the week ending Jan 8th, way above the 1mn that was widely expected by analysts polled by Dow Jones newswire. Trading has started positively today, hoping to buck the recent trend.

oil

Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - FEB 10

$78.79

+$0.48

ICE WTI - FEB 10

$80.09

+$0.46

GASOIL - FEB 10

$642

+$6.25

Market News

  •  The release of the Beige Book last night didn't stir the dollar, with the Dollar Index remaining largely unchanged
  •  On an economic front, please note that we have retail sales numbers from the US and the Interest Rate decision from the ECB
  • Please note that on the equity markets, we are entering earning season, with a large number of banks reporting numbers - this may well impact on all markets

Major Economic News

TIME

MARKET DATA

1330

US RETAIL SALES