Having broken through the $83 level, oil remained healthy in trading, maintaining the $86 level. Having topped $87 for the first time since October 2008, the API release yesterday indicated that demand was rising, albeit traders will eye today's weekly oil inventories for further details. The release of the FOMC minutes last night also gave market bulls reason to cheer, following confirmation of the exceptionally low stance for an extended period.

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Crude Oil

Commodity

Level

Change

ICE BRENT CRUDE - MAY 10

$85.94

-$0.20

ICE WTI - MAY 10

$86.43

-$0.37

GASOIL - APR 10

$719.75

-$5.75

Market News

  • The Bank of Japan voted unanimously to leave interest rates unchanged this morning at 0.1% and promised extremely accommodative policies in the future
  • A number of Federal Reserve members are scheduled to speak today, including Chairman Ben Bernanke in Texas this afternoon.
  • Currency traders should note that interest rate decisions are scheduled to be released tomorrow for the UK and the Eurozone
  • The US Dollar rose as speculation about further Greek woes spread through the market

Major Economic News

TIME

MARKET DATA

1530

WEEKLY OIL INVENTORIES