As the Euro edged higher for the first time in what seems an eternity, the US dollar fell away, helping the price of oil to move north. Whilst the move up is positive, we are still trading in and around the $72 level as traders are still concerned about the strength of the global recovery. The issues surrounding the Greek economy are weighing heavily on trader sentiment.

Market News

1. Iran's atomic chief announced that their enrichment programme had started
2. A slowdown in Chinese activity is expected as we edge closer to the Chinese lunar New Year
3. Please note that we have the weekly oil inventories figures scheduled for release tomorrow
4. Jean Claude Trichet is reportedly leaving a Sydney meeting of central bankers early to attend the European Council meeting on Thursday

ODL Securities Limited is authorised and regulated by the Financial Service Authority. Member of the London Stock Exchange. Member of Euronext.LIFFE. This email does not have any contractual effect; however, trading spot oil contracts or foreign exchange (forex or FX) carries a high level of risk to your capital. Only speculate with money you can afford to lose. Spot oil & FX may not be suitable for all investors therefore ensure you fully understand the risks involved. Do not invest in spot oil, forex or derivatives with money you cannot afford to lose. An investment in spot oil, forex and derivatives carries a high degree of risk to the investor and due to fluctuations in value the investor may not get back the amount invested. With certain transactions clients might not only lose their initial investment but may incur a liability to pay further unspecified amounts at a later date.