•Global crude futures traded lower in the European morning session Tuesday, with economic fears continuing to impact sentiment.

•The ICE Dollar Index traded at 86.118, up 0.206 on the overnight settle.

•"I think people got a little carried away yesterday with the Chinese fiscal package and the impact it may have on oil prices and after a morning rally reality set in and prices slipped back into negative numbers," energy analyst Robert Laughlin said in a report.

•Energy analyst Olivier Jakob at Petromatrix said the current intra-day volatility was unusually high, given the comparatively low flat price. This resulted in shorter profit target horizons and encouraged sideways movements.

•Open interest increased the first time in months by over 50,000 contracts to 1.125 mil in the week to Nov 4, Societe Generale's Michael Wittner said.

•The US DOE and the IEA are scheduled to issue their monthly reports on Wednesday and Thursday, respectively, with both expected to reflect the market's pessimism with downward revisions in demand.

Updated: November 11, 2008