Crude oil found firmer footing after the White House indicated that it would not be tapping the Strategic Petroleum Reserves (SPR). A forecast from the US governments own Energy Information Agency (EIA), has the global market being oversupplied next year and that prices were likely to fall as a result.
The US Dollar and Treasury yields went lower in the US session, but both have made small gains in Asia. Gold is close to making a 5-month high. The Aussie and Kiwi Dollars were the underperforming currencies of the day as risk sold off.
