This week, oil prices may well be dominated by headlines coming out of Vienna, where OPEC ministers are scheduled to meet on Wednesday. The Iranian oil minister stated that he felt OPEC nations should not change their output targets. In terms of today, quotes coming from Chinese Prime Minister Wen Jiaboa that he doesn't feel that the Chinese Yuan is overvalued and China may experience a double dip recession have pushed oil lower.

oil_15_3_2010

Crude Oil

Commodity

Level

Change

ICE BRENT CRUDE - APR 10

$78.72

-$0.66

ICE WTI - APR 10

$80.66

-$0.55

GASOIL - MAR 10

$661.50

-$4.00

Market News

  • Data released this morning showed that UK house prices slowed for the first time in thirteen months
  • Tuesday sees the FOMC announcement re US interest rates, and Japanese rates are scheduled for Wednesday
  • Followers of Sterling may be interested to note that the minutes from the last Bank of England meeting are scheduled for release on Wednesday

Major Economic News

TIME

MARKET DATA

1500

NAHB HOUSING MARKET INDEX - US