Traders and dealers see the OPEC meeting on March 15th and the possible changes to mark-to-market rules as being the two most likely market moving events.

OPEC is likely to reduce production and try to drive the price above $50/bbl, and hold it there.

As Michael referred to in an earlier post, a change in accounting standards for US banks will likely reduce their capitalisation requirements and should lead to a strong bounce in the financial sector.