Friday's price action in crude could be described as nothing short of nerve wrecking. Crude moved up in early trading supported by further weakness in the US currency which hit another fresh low for the year against the euro. The rally was also supported by latest economic news from China, the world's second biggest consumer showing that industrial production rose above expectations. However, a late recovery in the greenback was largely the trigger for a violent sell off in crude which lost in excess of 3%. Along with profit taking ahead of week end one speculation mentioned by analysts was a possible shift in focus towards near term demand for oil which remains weak.

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Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - OCT 09

67.69

(-2.26)

ICE WII - OCT 09

69.29

(-2.56)

GASOIL - OCT 09

564.25

(-4.50)

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