Oil Report

Yesterday's sharp sell off in crude was undoubtedly driven by a broad base weakening in global equities particularly Shanghai index as doubts emerge about China's economic growth, a supportive factor in the recent crude rallies. Chinese market received particular attention given the likelihood that any recovery in the oil demand will probably rely heavily upon China. The plunge in crude prices was arguably accentuated by thin trading conditions due to a UK holiday and ahead of the upcoming Labour Day weekend in US.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - OCT 09

69.65

(-3.22)

ICE WII - OCT 09

69.96

(-3.09)

GASOIL - OCT 09

569.25

(-31.75)

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