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Iran and job report took centre stage over Easter (Brent: $57.4)

Oil prices over Easter have been extremely volatile with a disappointing job report from the U.S. and a deal on Iran's nuclear program.

After a row of improving job data in the U.S., Friday's Nonfarm Payrolls data came out well below expectations - 126K new jobs versus 245K previous which made the markets fear for the continued growth path in the country. Along with western countries and Iran reaching some kind of deal on the latter's nuclear program, oil prices dropped. As markets were finding their feet yesterday, oil prices came back up again and even added a few notches as it became clear that the deal does not imply immediate flow of Iranian oil in the market and the dollar weakened on the back of the jobs report.

OPEC member Saudi Arabia has increased its selling price to Asia for the second month in a row by 0.3 USD/barrel while dropping 0.2 USD/barrel to Europe and 0.10 USD/barrel to the U.S. Coming up tonight is the weekly oil inventory report from the American Petroleum Institute ahead of the official EIA report on Wednesday (16.30 CET); another increase in crude stock is expected; draw in gasoline inventories.

Today in economic numbers
09.00 EUR Spanish Services PMI (Mar)
09:45 EUR Italian Services PMI (Mar)
09:50 EUR French Services PMI (Mar)
09:55 EUR German Services PMI (Mar)
10:00 EUR Markit Composite PMI (Mar)
10:00 EUR Services PMI (Mar)
10:30 GBP Services PMI (Mar)
14:50 USD FOMC Member Kocherlakota Speaks
16:00 USD JOLTs Job Openings (Feb)
22:30 USD API Weekly Crude Stock
22:30 USD API Weekly Distillates Stocks
22:30 USD API Weekly Gasoline Stock