•-Global crude futures strengthened significantly Monday, after a strong finish last Friday lent a bullish tone to the start of the week and left the market within striking distance of $100/barrel for WTI.

•There were new record highs during morning European trading on front month ICE Brent and ICE gasoil contracts, which peaked at $96.65/b and $860.25/mt, respectively. In Middle East markets, the January DME Oman contract traded at $90.20/b, up 20 cents from the previous settle. Cash Dubai for January loading breached the $90/barrel for the first time.

•"It is the final push towards $100, especially when the US comes in," said a London-based analyst. "Everyone wants to see $100 and then forget about it. People will come back into the market in the US and see that it is $2 higher than when they left it, and buy," the analyst said.

•In the background the dollar slipped against other currencies, while commodities, such as gold, continued to perform strongly across the board.

Updated: November 26, 2007