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Oil prices rose more than 2 percent on Monday in volatile trading, with WTI settling at $47.08 and Brent at $48.24 per barrel. Gains faded after reports that OPEC experts had not agreed on the details of the planned output cut.
Prices are being driven by uncertainty over whether OPEC will finalize its cut, so the outlook depends on the Wednesday meeting rather than on current supply and demand. Traders will react to any firm agreement or breakdown.
reuters.comJessica Resnick-AultNov 28, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
