• Oil is trading lower

Market news

18 November 2016

Oil is trading lower

This morning the New York futures for Brent dropped 0.84% ​​to $ 46.10 and WTI fell 1.14% to $ 44.90 per barrel. Thus, the black gold is trading in the red zone, move caused by a strong US dollar and weakening hopes for a OPEC production cut. Recall, the country's largest oil exporters (Saudi Arabia, Algeria, Russia, Iran, Kuwait, Libya, Venezuela, Bahrain, UAE, Qatar and Nigeria) will hold a meeting in Doha to discuss the details of a possible deal.

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