Larger than expected stock piles are keeping the price of oil at the $70 level, having been in excess of $80 last month. Tonight's API data release may give some indication of how tomorrows weekly inventory figures are going to come in at. Crude has now fallen on nine successive sessions, its' longest losing streak in eight years.

oil_15_12_09

Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - JAN 10

$71.95

+$0.07

ICE WTI - JAN 10

$69.55

+$0.10

GASOIL - JAN 10

$587.75

-$0.50

   

Market News

- Exxon’s decision to buy natural gas producer XTO Energy highlights their confidence that US gas prices are set to rise in the future
- Bear in mind tomorrow we see weekly oil inventories and the FOMC statement re interest rate decision

Major Economic News

TIME

MARKET DATA

1330

US PPI

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