Continued weakness in the Dollar pushed oil higher, regaining most of last weeks' losses. The Dollar lost nearly 0.5% against a basket of leading currencies on Monday, and focus will remain on the currency as Obama continues to meet dignitaries in Asia.
ICE BRENT CRUDE - JAN 10
ICE WTI - JAN 10
GASOIL - JAN 10
- OPEC President said that they are facing uncertainty in the oil market, and it is too early to predict whether or not to revise crude production levels. OPEC are due to meet on Dec 22 to decide on production policy
- Oil inventories in industrialized countries leave forward cover for 62 days
- Keep an eye out for US retail Sales figures released this afternoon.
- The UK releases CPI figures tomorrow, and the US follows suit on the next day
Major Economic News