Upon release of yesterday’s oil inventory figures, oil slipped back, however it is trading to the upside in early trade. Data showed crude stock piles rose to 2.1mn barrels, way ahead of the 400,000 barrels expected by analysts. Increased supplies, coupled with the threat of falling demand helped oil lower, but we remain within the trading range of $75 to $80

width=450


Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - JAN 10

$78.70

+$0.84

ICE WTI - JAN 10

$77.27

+$0.60

GASOIL - JAN 10

$634.75

+$5.25

Market News
- Kuwaiti Oil Minister wants no change to OPEC production in December
- ECB are due to announce interest rate decision this afternoon, with most analysts expecting rates to remain unchanged
- Keep an eye out for non-farm payroll figures due for release tomorrow


Major Economic News

TIME

MARKET DATA

1330

Initial Jobless Claims