Following Wednesday's report showing a bigger than expected build in crude supplies, oil's advanced has slowed, albeit the price has stayed relatively stable. Whilst positive economic numbers have increased traders risk appetite, the re-emergence of concerns surrounding the Greek bailout has put a dampener to the rapid prices increases seen over the last week.

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Crude Oil

Commodity

Level

Change

ICE BRENT CRUDE - MAY 10

$85.65

+$0.84

ICE WTI - MAY 10

$86.17

+$0.79

GASOIL - APR 10

$717.75

+$9.25

Market News

  • UK interest rates remained unchanged as expected. This stance is unlikely to change over the coming weeks as we near the May 6th election
  • The ECB kept interest rates on hold within the 16 state Eurozone nation yesterday as expected
  • Timothy Geithner concluded a meeting with the Chinese Vice Premier, and there may be follow up talks in late May. The potential for a revaluation of the yuan may be deemed oil positive if the dollar weakens.

Major Economic News

TIME

MARKET DATA

 

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