Thursday 27th August 2009

Further strengthening in the US dollar was undoubtedly the main driver for a slight decline in crude prices given that equity market was rather flat. The weekly EIA numbers showed a marginal increase in crude inventories against the market expectations of a slight decrease while gasoline stocks fell more than anticipated. So overall the data could hardly be described as supportive with the trading across the energy complex continuing to feel like a choppy environment.

Crude Oil

COMMODITY

LEVEL

CHANGE

ICE BRENT CRUDE - OCT 09

71.65

(+0.37)

ICE WII - OCT 09

71.43

(-0.18)

GASOIL - OCT 09

587.25

(-9.75)