What's Moving the Oil Markets?

 

•Global crude futures firmed in early European trading Monday, following further co-ordinated central bank actions to stabilize the global banking system, after last week's plunge in equities and commodities, sources said.

•Global equities were boosted following the British government's plan to invest up to GBP37 billion ($64 billion) in ailing British banks Royal Bank of Scotland, HBOS and Lloyds TSB.

•Gains in commodities far lagged those in equities, allowing the market sentiment to remain on the bear-side, analysts said.

Updated: October 14, 2008