Oil pulled back last night amongst fears that the economic rally may not be as strong as first thought. As the FED highlighted that they would be bring to an end the stimulus packages that have helped buoy the US economy, this has raised doubts on whether growth is sustainable. Dollar strength continues to hurt the price of oil, with the dollar index bouncing off multi month lows.

oil_17_12_09

Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - JAN 10

$73.87

-$0.40

ICE WTI - JAN 10

$72.14

-$0.50

GASOIL - JAN 10

$598.50

-$4.75

Market News 

- Russian foreign minister says that the US are slowing down the nuclear talks

- weekly oil inventories showed stock piles declining by 3.7 million barrels last week

Major Economic News

TIME

MARKET DATA

1330

Initial Claims

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