Oil recovered ever so slightly, however it looks like two stories will dominate news. The 'crisis in Dubai will grab headlines, as will the Iranian nuclear story. This was reflected in trading, with implied volatility on crude futures rising by 155 on Friday, the biggest jump in over a year.
- Libya’s top officials claim that OPEC won’t change oil production levels when they meet on December 22nd
- Somali pirates have seized a tanker heading from Saudi to the US according to reports from the BBC
Major Economic News