Crude futures rolled to the Feb contract today which traded at something like a $9 premium to January but now that it’s the front-month it is under pressure as well. Crude futures closed at $40.36 a barrel today, down $2.
On the wires, King Albert of Belgium has asked former PM Martens to try and form a government after accepting the resignation of the previous government earlier today.
FX markets remain sluggish with EUR/USD at 1.3950 and USD/JPY at 90.00. Equities are under pressure with the S&P down 2.6% on light volume.
