Oil Report

Yesterday's further weakness in crude prices was triggered by a sharp sell off in the equity markets combined with a rebound in the US dollar showing that the energy complex remains closely linked to financial swings. Chinese equity plunge at the start of the week brought to the world wide attention the fragility of the economic recovery and the follow up concerns easily spilled over into energy complex. Today's DOE stats are likely to force a refocus on oil fundamentals although upcoming economic releases this week will probably have the upper hand.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - OCT 09

67.73

(-1.92)

ICE WII - OCT 09

68.05

(-1.71)

GASOIL - OCT 09

572.50

(-1.00)

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