As global equity markets consolidated after the slight pullback, the price of oil remained relatively stable, edging back over the $81 mark. Comments from the Luxemburg Prime Minister that the EU would not abandon Greece helped buoy confidence, and Fed member Lockhart offered a bullish forecast for the economic outlook for the US.

oil_23_3_10

Crude Oil

Commodity

Level

Change

ICE BRENT CRUDE - MAY 10

$80.21

-$0.33

ICE WTI - APR 10

$81.26

-$0.33

GASOIL - APR 10

$664.75

+$3.00

Market News

  • Luxemburg Prime Minister Jean-Claude Junker said that the EU will not abandon Greece amid the financial crisis
  • EU leaders meet in Brussels this week to discuss the Greek bailout - focus will be on the stance of Germany, the largest economy in the eurozone
  • The minutes from the last Bank of Japan meeting showed divisions within the group with regards to the economic outlook

Major Economic News

TIME

MARKET DATA

2030

US API CRUDE OIL INVENTORIES