Crude oil is quoting slightly lower in London today after recording a decent upturn yesterday. Crude oil futures garnered some strength yesterday as the five major global central banks announced that they would provide dollar liquidity in a coordinated move to ease dollar-funding constraints among some European banks. Shares of French banks, which had been battered earlier in the week, jumped on the news soared, leading to a secular rally in world stocks yesterday. The WTI crude also topped highs of $90 yet again on these cues. However, the sentiments showed signs of getting fatigued today as the latest Chinese economic showed that the Chinese households and entrepreneurs are beginning to feel less upbeat about the future, but analysts are divided over whether the mood shift could soon warrant moderate policy easing as authorities seek to cushion the economy from a rapid slowdown. Sentiment among households, entrepreneurs and bankers weakened in the most recent quarter, according to a survey by the People's Bank of China released earlier this week. Households' inflation expectations nudged up to 74.8 from 72.2, while the outlook for income expectations and job expectations declined 50.3 from 52.1, according to the PBOC survey. Meanwhile, confidence among bankers eased to 54.9 from 57. Most of those polled believe further monetary-policy tightening was on the way, with interest rates set to rise in the fourth quarter The equities are holding up though a modest bout of pressure seems to be offing ahead of the weekends. The WTI crude futures are quoting at $89.39, down 1 cent on the day. The prices have drifted lower after hitting a high of $89.78 per barrel, indicating that a critical resistance is emerging around $90 per barrel levels. MCX Crude oil futures for September are quoting at $4235, down Rs 17 on the day.

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