Oil is trading higher

Market news

22 November 2016

Oil is trading higher

This morning the New York futures for Brent increased 0.31% to $ 49.05 and WTI rose 0.27% to $ 48.37 per barrel. Thus, the black gold is trading in the green zone near the October highs. At the moment, market participants are expecting a OPEC deal to limit production, but analysts warned that the failure of this initiative will lead to an increase in the oversupply in early 2017.

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