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.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - JAN 10

$77.61

+$0.45

ICE WTI - JAN 10

$76.49

+$0.47

GASOIL - JAN 10

$626.75

+$10

   

Market News

- 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

TIME

MARKET DATA

1445

Chicago PMI