Oil touched the $80 level, but still fall shy of the $82 intraday high last month. The November chart shows that we are stuck in the middle of the recent trading range. Yesterday saw a move over the $80, but slipped back following a report from the American Petroleum Institute that crude stock piles rose more than anticipated.
|ICE BRENT CRUDE - JAN 10|
|ICE WTI - JAN 10|
|GASOIL - JAN 10|
- Tropical Strom Ida came ashore along the Gulf Coast early yesterday
- Oil output increased, with daily production from the Kirkuk region of Iraq climbing to 670,000 barrels – Iraq is OPECs third largest producer
- Yesterday saw the International Energy Agency and the US Energy Information Administration forecast that demand would soon rebound in line with a global recovery
- The weekly oil inventories will be announced on Thursday this week, as opposed to the usual Wednesday