Crude Oil Still Down; Meeting of the Central Bank, U.S. Jobs Eyed

Crude Oil Still Down; Meeting of the Central Bank, U.S. Jobs Eyed

Crude oil will remain low as continued profit taking on a stronger dollar against major currencies amid a relatively thin trading. "Traders are trying to find a cue that the way to go," said Mitsubishi UFJ Research Consulting analyst Tomomichi Akuta, on doubts over how the rescue plan will work.



In addition to meeting the U.S. Federal Open Market Committee on Tuesday and Wednesday, the ECB monetary policy decision on Thursday, and U.S. jobs data on Friday will be in focus, he added. Nymex December crude oil fell 90 cents at $ 92.42/bbl on Globex ICE December Brent is off 91 cents at $ 109.00/bbl.