Crude oil prices continued to hover near its highest level since June 2008, where the weakness of the U.S. dollar continue to push oil prices higher, despite slowing economic growth in the United States, where the U.S. economy expanded during the first quarter by an annualized rate of 1.8% only. We should expect oil prices to continue with the overall upside direction, nevertheless, oil prices currently lack strong momentum to rise, and accordingly, we should expect somewhat volatile trading within narrow ranges to dominate oil trading on Monday. While we also should note that the ISM manufacturing index could play a role in moving crude oil prices. Monday 14:00, the United States will release the ISM Manufacturing index for the month of April, where the ISM manufacturing index is expected to ease to 60.1 in April, compared with the prior estimate of 61.2 reported back in March.

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