Tuesday, 1 December 2015

U.S. crude ends bearish month with slight losses, ahead of OPEC meeting

Rad More http://www.marketmagnify.com/bullion-tips.php

U.S. crude futures inched down on Monday, amid a stronger dollar as investors continue to await Friday's critical OPEC meeting for potential shifts in supply-demand dynamics on global energy markets. On the New York Mercantile Exchange, WTI crude for January delivery traded in a broad range between $41.52 and $42.60 a barrel on Monday, before settling at $41.63, down 0.09 or 0.20% on the day. After jumping above $42 in U.S. morning trading, U.S. crude futures pared earlier gains in the afternoon session reversing territory just before the close. 

Despite a significant rally in late-November, WTI crude futures still closed the month down by roughly 9%. On the Intercontinental Exchange (ICE), brent crude wavered between $44.51 and $45.74 a barrel before closing at $44.58, down 0.27 or 0.59% on the session. North Sea brent futures ended the month with a four-day losing skid, closing November down by approximately 8.5%. Meanwhile, the spread between the international and U.S. domestic benchmarks of crude stood at $2.95, below Friday's level of $3.12 at the close of trading.

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