Support at 1.4100 is being protected by sovereign bids on dips this afternoon. Prices have rebounded to 1.4135 from 1.4110 lows.

Oil prices bounced back at the close of pit trading. They were down 5% at their worst but ended down 3.4% or $2.32.

Russian preseident Medvedev is on the wires saying $60-70 is a fair range. We trade now at $66.25.