The dollar rally caused further pullbacks in the energy markets, with oil moving to the bottom of its recent trading range. Dollar strength, plus comments from a number of Oil Ministers have pushed oil lower, so now we wait to see if bulls will use this dip as a buying opportunity, or is the retreat that bears have been looking for?
|ICE BRENT CRUDE - JAN 10||$77.34||-$0.16|
|ICE WTI - JAN 10||$75.07||-$0.39|
|GASOIL - JAN 10||$627||-$8.50|
- Oil ministers from Libya, Kuwait, Algeria and Qatar commented that they believe OPEC will keep output steady when they next meet on December 22nd
- Saudi Arabia’s oil minister said that oil prices bouncing in and around $70 were “perfect”
Major Economic News