Crude oil prices are trading a little firmer today ahead of the latest update from the EIA due later today. On the back of the 3.1-million-barrel deficit reported last week, the market is looking for a further drawdown this week of 1.4 million barrels. Despite the drawdown reported last week, crude prices were unable to breakout to the upside, reflecting the conflicting factors which are constraining oil prices currently. On the one hand, a weaker US Dollar is helping underpin crude while fears over the Chinese economic recovery are acting as a headwind. Added to that, hawkish central bank expectations are keeping ... (full story)