|News||Crude above $81 supported by global equity indices|
|Analysis||Crude stabilized in the morning session above $81 per barrel, supported by rising U.S. indices yesterday, which came after Obama's healthcare bill's approval from the House of Representatives.|
Meanwhile, the U.S. House of Representatives voted on the final draft for the healthcare reform, where it is in the final step to be sent to President Obama; the biggest healthcare plan in 100 years passed the House with a vote on Sunday with 219 to 212.
The thumbs up by the House on the bill that had been awaited for a while supported optimism in markets; the Dow Jones Average gained by 0.41%, supporting oil prices to record its highest levels yesterday at $81.80 per barrel. Meanwhile, the majority of Asian and European stock indices rose today to provide crude with more stability above previously mentioned levels.
The S&P GSCI index closed yesterday at 521.67 down by 1.11; whereas the RJ/CRB commodity index recorded a drop by 0.35 to close by 272.28.
In NYMEX as of 04:14 EST; heating oil futures fell to $207.500 per gallon by $0.870; motor gasoline is trading around $224.700 per gallon after dropping by $0.920; whereas natural gas gained by $0.260 to record $4.105 per 1000 cubic feet. In London, Brent receded by $0.370 to record $80.170.
Crude opened today at $81.77 per barrel recording its highest at $81.77 and lowest at $81.15, where it is currently trading around $81.22 per barrel.