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Tuesday, 22 November 2016

Oil prices end near flat on uncertain outcome from OPEC meeting | Reuters

Oil prices end near flat on uncertain outcome from OPEC meeting | Reuters:
"Oil ended little changed on Tuesday in volatile trade that saw prices rise and fall by $1 a barrel depending on the latest comment from OPEC officials at a technical conference in Vienna on whether the cartel members would agree to an output cut.

Officials at the Organization of the Petroleum Exporting Countries (OPEC) meeting tried to hammer out the details of an agreement to cut output before a formal meeting on Nov. 30.

Brent futures LCOc1 gained 22 cents, or 0.45 percent, to settle at $49.12 a barrel, its highest close since the end of October, while U.S. crude CLc1 lost 21 cents, or 0.44 percent, to finish at $48.03."

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