Oil prices look set to rise again

Friday saw a slight retracement in oil prices with Brent crude giving up US$0.69 to close at US$100.21 on profit-taking and easing of geopolitical pressures on the withdrawal of Turkish troops from Northern Iraq.

However, this morning the crude oil markets again look to advance as fresh investor monies enter the commodity suite in general, and oil in particular. Key drivers are the continuing weakness of the Dollar and uncertainty over the outcome of Wednesdays OPEC meeting.