Oil traded yesterday on levels of $94 a barrel after a flat trading session before Fed Chairman Bernanke’s speech today at Jackson Hole.
Future demand expectations for oil were not affected by statements from US regarding unemployment claims, which were largely unchanged from the previous month at 374k.
Personal spending has risen 0.4% from the previous month, making room for increased optimism about the recovery of the American market, particularly in light of the good retail sales results just a few days ago.

Oil closed yesterday at $95.5 a barrel after trading as high is $97.5 a barrel in a strong range between $95 and $98 a barrel.
A tropical storm in the Gulf of Mexico has put major oil outputs at risk of less production in the near future, changing short term expectations for the price of oil.
Today we can expect two major events in the market, both of which may impact on the price of the commodity.
Firstly, there is the S&P/CS Composite-20 HPI. With the Fed indicating more ease to the economy if financial improvement not good enough, the housing market will be a major factor in future stimulus and growth expectations.

Oil closed yesterday at $95.5 a barrel after trading as high is $97.5 a barrel in a strong range between $95 and $98 a barrel.
A tropical storm in the Gulf of Mexico has put major oil outputs at risk of less production in the near future, changing short term expectations for the price of oil.
Today we can expect two major events in the market, both of which may impact on the price of the commodity.
Firstly, there is the S&P/CS Composite-20 HPI. With the Fed indicating more ease to the economy if financial improvement not good enough, the housing market will be a major factor in future stimulus and growth expectations.

Oil closed yesterday at $95.5 a barrel after trading as high is $97.5 a barrel in a strong range between $95 and $98 a barrel.
A tropical storm in the Gulf of Mexico has put major oil outputs at risk of less production in the near future, changing short term expectations for the price of oil.
Today we can expect two major events in the market, both of which may impact on the price of the commodity.
Firstly, there is the S&P/CS Composite-20 HPI. With the Fed indicating more ease to the economy if financial improvement not good enough, the housing market will be a major factor in future stimulus and growth expectations.

Oil closed on Friday at $96 a barrel after a flat trading session which revised near term expectations for a $100 a barrel break.
It is trading in a slim range between $95 and $97 a barrel, thanks to the steady balance between all the factors that influence the commodity’s price. Current statements from the financial arena are making a slight impression compared with geopolitical news such as tensions from Iran and the latest tropical storm expected in the US, which may damage oil output.
The publication of the durable goods orders yesterday, showing a rise of 4.2%, is a good example of how the markets are largely indifferent to financial news for future demand for oil.