empty
 
 

29.11.202319:22:00UTC+00Crude Oil Sees Another Jump Ahead Of OPEC+ Meeting

Following the surge seen in the previous session, the price of crude oil showed another strong move to the upside during trading on Wednesday.

Crude for January delivery jumped $1.45 or 1.9 percent to $77.86 a barrel after spiking $1.55 or 2.1 percent to $76.41 a barrel during Tuesday's trading.

The continued increase by the price of crude oil came as traders look ahead to Thursday's meeting of the Organization of the Petroleum Exporting Countries and their allies. The group, known as OPEC+, is expected to extend or deepen supply cuts.

News of supply disruption caused by a storm in the Black Sea also contributed to the extended surge in oil prices.

Meanwhile, traders largely shrugged off a report from the Energy Information Administration showing an unexpected increase in crude oil inventories.

The report said crude oil inventories rose by 1.6 million barrels in the week ended November 24th compared to expectations for a decrease of 0.9 million barrels.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback