Oil prices traded higher following news that Hurricane Ida threatened oil installations in New Mexico. Ida is the first major Atlantic hurricane of the year, and is scheduled to make landfall on Tuesday. This has helped reverse Fridays slump following the release of the non-farms. A dismal jobs report heightened concerns that the global economic recovery may stall, thus hitting consumption.
|ICE BRENT CRUDE - DEC 09|
|ICE WTI - DEC 09|
|GASOIL - DEC 09|
- Another busy week on the economics front sees the release of UK trade balance figures on Tuesday, Euro zone GDP on Friday, and US trade balance on Friday.