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.

Oil_26_1_10

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