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Commodities Briefing - Categorized | Market Pulse, Oil more

IEA warns of another boom-bust cycle in oil

Posted on 17 November 2016

Commodities were broadly lower as the US dollar notched up fresh multi-year highs, even as analysts sounded a bullish note on oil and gold. Front month Brent crude futures fell back, albeit following sharp gains in the previous session, with Brent down 0.5% to $46.72 while West Texas Intermediate was drifting 0.2% lower to $45.71 on the ICE.
To take note of, Russian energy minister Alexander Novak reportedly said there were good odds that OPEC members would agree on the details of an oil output cut by 30 November, when the cartel was next scheduled to meet………………………………………..Full Article: Source


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