Oil: Prices further decline

Market news

12 November 2014

Oil: Prices further decline

Oil prices declined in today's trading. Brent Crude is currently trading -0.37% at USD81.37 and WTI Crude lost -0.64% trading at USD77.44. Investors are awaiting OPEC's monthly report scheduled for today.

A weakening global demand, a stronger U.S. dollar and no indication on the OPEC to cut output in order to support oil prices are weighing on the market. The next meeting of OPEC oil ministers, whose 12 members supply about 40 percent of the world's oil, is scheduled for November 27th.

European stock markets mid-session: Banking stocks weigh on European indices

Gold trading slightly higher around USD1163.00 per ounce

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