• Oil is trading lower

Market news

29 November 2016

Oil is trading lower

This morning, the New York futures for Brent dropped in price 0.61% to $ 48.91 and WTI fell 0.49% to $ 46.85 per barrel. Thus, the black gold is traded in the red zone on the background of the ongoing debate about the details of the OPEC deal. According to Reuters latest information, the OPEC countries failed to reach a compromise on the details of the transaction to restrict production, clouding prospects for a definitive agreement at the formal meeting of the cartel on 30 November. Today, the American Petroleum Institute will release weekly data on stocks.

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