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Commodities Briefing - Categorized | Market Moves, Oil more

Goldman Sees OPEC Meeting Down to the Wire With 30% Odds of Deal

Posted on 30 November 2016

The oil market is pricing in a 30 percent chance of producers reaching a deal to cut output at OPEC’s meeting in Vienna, according to Goldman Sachs Group Inc. Global benchmark Brent crude may swing $6 a barrel on Wednesday, based on implied volatility for options contracts, analysts including Damien Courvalin and Jeff Currie said in a report Monday.
Futures would rally into the low $50s a barrel and average $55 over the first half of next year if the group agrees to a cut, according to the bank. Failure to reach an accord would mean prices would average $45 a barrel through the summer………………………………………..Full Article: Source


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