width=600

Oil Report
Thursday 3rd September 2009

Crude finished near flat yesterday although the price action throughout the trading session sent some mixed signals. The Department of Energy inventory data showed a drop of 0.4 mbs in crude stocks, in line with a survey by Dow Jones Newswires as well as a larger than anticipated 3mbs decline in gasoline stockpiles. As a result crude rallied to an intraday high of $68.82 but the upward move was quickly dismissed by the market and crude gave back its initial gains on renewed concerns about the economic recovery despite a weaker US dollar. So tough times ahead with investors likely to remain nervous in the near term especially when the positive news of the past week or so have failed to significantly move the equities or the euro higher.

width=580

width=600

width=600

Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - OCT 09

67.66

(-0.33)

ICE WII - OCT 09

68.05

(-0.12)

GASOIL - OCT 09

561.75

(-1.25)

width=600

width=600

Risk Warning: Spread betting and Contracts For Differences (CFDs) carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Only speculate with money you can afford to lose. Please ensure you fully understand the risks involved and seek independent advice if necessary. Any information provided does not constitute the giving of investment advice. ODL Markets is a trading name of ODL Securities Limited, 8th Floor, 10 Lower Thames Street, London EC3R 6AD which is authorised and regulated by the Financial Services Authority.

width=600