New York (Platts)--14Oct2008

NYMEX front-month crude futures on the CME's Globex system were $3.31
higher at $84.50/barrel Tuesday, moving in tandem with global equity markets
and inverse to the US dollar, which continued to come under pressure.

Following Monday's 936-point gain in the Dow Jones Industrial Index,
global bourses rallied smartly while the ICE US Dollar Index fell another 112
points to 80.752, following a 112-point drop Monday.

"The sigh of relief was clearly audible across the markets yesterday,
following weeks of turmoil, crisis and fear, the announcements by the major
European governments that they will effectively bail out their respective
banking sectors injected some much needed calm in to the market," analysts at
Calyon said in a report.

"Not only did stock markets soar, but market rates eased, suggesting that
at the very least the worst might be over."

Product markets also firmed with both heating oil and RBOB futures
gaining over 7 cents each.
--Linda Rafield, linda_rafield@platts.com