:: Market News --- ID :: 14498
crude today:Oil prices are edged lower
REBALANCING

By Srinivas Chowdary Sunkara // petrobazaar // 20-11-2017.

Crude oil futures slipped by above 1 % on Monday after a recovery on Friday. Many of the Investors and traders are more concerned with the OPEC's decision at the month end meeting. Saudi energy minister appealed that OPEC should extend production cut agreement to ensure equilibrium in the market. Though uncertainty looming over,  Market believes that OPEC is very likely to extend production cuts even 10 nos of non-OPEC countries including Russia stay away from cuts. Both the Futures lost above 1% during the last week. Rig machines were added to U.S gas fields and shale oil fields still contain 748 rigs in operation. 

WTI and Brent Price today

U.S crude futures, West Texas Intermediate(WTI) for December delivery lost above 1% or 60 cents at $55.95 per barrel while Brent futures to be delivered in January are down by 87 cents or 1.387% at $61.85 a barrel at IST 8:53 P.M. WTI futures to expire as on today.