By Leon Westgate Crude oil prices continue to yo-yo about, with front month WTI coming back under pressure yesterday after putting in a solid performance on Tuesday. Weaker equity markets and the stronger dollar were the main factors dragging prices lower yesterday, however, against this backdrop the market is continuing to be limited by technical levels. This morning has seen front month WTI trade sideways ahead of this afternoon’s DOE data, with prices hovering around yesterday’s closing levels. Brent is also treading water, with the market lacking direction and waiting for something to happen. The US DOE inventory report is expected to show a 2.4 million barrel increase in Crude Oil Inventories, a 2.0 million barrel increase in Gasoline stocks and no change in stocks of Distillates. Refinery Utilisation is expected to post a 0.50% decline. Trading platform that even a 5 year old can trade. Join now Significant departures from consensus expectations will impact on prices, however, as seen in previous days, the performance of the dollar and the equity markets this afternoon may have a greater sway over price direction Thermal coal prices rallied overnight in the wake of the Chinese data, before coming back under pressure heading into the afternoon. Wednesday saw prices come under pressure, in line with the wider commodities complex, with API2 for Q1-2010 dropping $2.05 to $82.20. API4 also came under pressure, with Q1-2010 dropping $1.55 to $84.85.

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