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.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - DEC 09

76.86

(+0.99)

ICE WTI - DEC 09

79.12

(+1.03)

GASOIL - DEC 09

628.50

(-11.25)

Market News
- 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.