•Crude futures moved lower on Monday, further retreating from the above-$100/barrel record-levels seen Thursday, as worries about a slowdown in the US economy pressured prices. Crude futures prices have pulled back continuously since last Thursday, when, following a bullish set of US stock data, front-month NYMEX WTI hit and pierced the magical $100/b mark. Since then, strong losses, particularly in RBOB, and worrying US economic data have dragged the whole petroleum complex down.

•Looking closer at the worrying US economic data released Friday, the US unemployment rate jumped 0.3 percentage points to 5% in Dec, according to the Bureau of Labor Statistics. The non-farm payroll figure rose by 18,000 in Dec, well below market consensus calling for a gain of 70,000 jobs, with employment in manufacturing and construction continuing to decline.

Updated: January 7, 2008