Crude continues to trade above the $80 level as investors waited for a raft of economic data scheduled to be released over the next 48 hours. Yesterdays weekly inventories showed a build of 4.1mn barrels, well above the anticipated 1.1mn barrels. Despite this build, a weakening Dollar helped keep the price buoyant.

Market News

1. Eurozone GDP rose by 0.1% in Q4 2009, in line with expectations
2. Analysts generally anticipate that UK Interest Rates will be left unchanged at 0.5%
3. The Australian trade deficit narrowed to - AUD$1.2bn in overnight data
4. Please note that non farm payroll figures are scheduled for release tomorrow
   

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