“Demand is not there”, says the Saudi oil minister in headlines crossing the Reuters wire. Inventories are rising, he continued, despite the fact that the Saudis alone have taken 1.7 mln barrels of oil per day off the world market.
EUR/USD breifly dipped below the 1.3200 level, reaching 1.3190 before a modest bounce. USD/JPY remains firm, eyeing 90.00 ahead of the New York options expiration at 10:00 am Eastern time.
