Crude Oil rose above US$82 bbl Monday, gaining for a 2nd session as the UDS weakened after the Group of 20 meeting on the weekend. The USD dropped, hitting a 15 yr low against the Yen, as the G-20 agreement to not interfere in competitive currency devaluations was taken by investors as a go-ahead to resume selling the “Greenback.” US Crude Oil for Dec deliver climbed 66c to US$82.35 bbl at 7:30 a.m. EDT, around US$2 from a 5 month high of US$84.43 reached on October 7. ICE Brent added 54c to US$83.50. Among other commodities, Gold rose more than 1%, Palladium hit its highest in nearly 10 yrs and Copper tapped a 27 month high in London. Analysts said the G-20 outcome suggested a return to the pre-existing status quo in currency markets, with the dollar staying under pressure due to expectations the Federal Reserve would unveil a second round of quantitative easing as early as November. Players are waiting for a speech by US Federal Reserve Chairman Ben Bernanke at 8:30 a.m. EDT today Crude Oil traders are keeping an eye on the potential for weather disruption to supplies in the Gulf of Mexico.—Paul A. Ebeling, Jnr. www.livetradingnews.com

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