Futures Markets
Crude drops on worries that OPEC cuts will not be enough
Crude oil prices ended lower Monday after rising to as high as $50.05 per barrel earlier in the session on expectations that the Organization of Petroleum Exporting Countries will cut output when it meets later this week and on the likelihood that Russia will also cut production.
Despite the probable cuts, some analysts believe that prices [...]
EIA report pushes crude prices slightly higher
Crude oil prices were up slightly in afternoon in New York after the US Energy Information Administration reported that US inventories were down slightly last week against expectations of gains.
Crude oil stockpiles dropped 400,000 barrels to 320.4 million barrels in the week ending 28 November instead of rising by the expected 2 million barrels, although [...]
Crude oil declines on OPEC news
Crude oil prices fell again Monday after the Organization of Petroleum Exporting Countries put off a decision concerning whether or not to cut production further in an effort to push prices higher even though indications are that the cartel will cut production further when it meets in Algeria on 17 December.
Even those cuts are in [...]