Oil is trading lower

Market news

11 October 2016

Oil is trading lower

This morning, the New York futures for Brent have fallen in price by 0.5% to $ 52.8 and WTI down 0.49% to $ 51.1 per barrel. Thus, the black gold is traded lower today while remaining near yearly highs. Earlier, oil rose to the 2016 highs, since Russia and Saudi Arabia have announced the possibility to conclude an agreement on the limitation of production among the OPEC countries and non-member producers.

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Major stock exchanges trading in the red zone: FTSE -0.1%, DAX -0.2%, CAC 40 -0.1%, FTMIB -0.4%, IBEX -0.4%

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