Daily Oil Report Tuesday 26th January 2010

By IBTimes Staff Reporter | January 26 2010 4:30 AM

Falling stock markets and a rising dollar both contributed to the price of oil going below $75. Investors will now be eyeing up the consumer confidence figures later today, plus the statement that accompanies tomorrow night's interest rate decision in the US by the FOMC.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - FEB 10

$72.85

-$0.83

ICE WTI - FEB 10

$74.36

-$0.89

GASOIL - FEB 10

$590.50

-$3.50

Market News

Yesterday, US existing home sales fell by 16.7% in December
Following a recent run up, the US Dollar fell back in trading yesterday against a basket of leading currencies
Q4 GDP in the UK will be announced at 0930, with analysts consensus being that the recession will officially be over, citing 0.4% growth
Qatar's oil minister said that OPEC were unlikely to change production levels at their next meeting, in Vienna, on March 17th

Major Economic News

TIME

MARKET DATA

1500

US Consumer Confidence

Euro Set For Another Week of Disappointing Data

Euro Set For Another Week of Disappointing Data

Eurozone Reports Increased Trade Surplus

Eurozone Reports Increased Trade Surplus

Eurozone GDP Puts Euro Under Pressure

Eurozone GDP Puts Euro Under Pressure

ZEW Results Weigh on Euro

ZEW Results Weigh on Euro

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