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Wednesday, 16 November 2016

Oil volatile as U.S. crude build faces OPEC freeze hopes | Reuters

Oil volatile as U.S. crude build faces OPEC freeze hopes | Reuters:
"Oil prices were little changed in volatile trading as the market weighed Russia's comments about a possible meeting with Saudi Arabia that renewed hopes for a production freeze deal against a bigger-than-expected U.S. crude inventory build.

Brent futures LCOc1 fell 2 cents to $46.93 a barrel by 12:52 p.m. EST (1752 GMT). U.S. crude CLc1 rose 7 cents, or 0.2 percent, to $45.88 per barrel.

That followed a near 6 percent price surge on Tuesday on news the Organization of the Petroleum Exporting Countries would renew efforts to limit production ahead of its official meeting in Vienna."

'via Blog this'