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Oil Gains, Holds Near 2-Month High as Looming OPEC Meeting Expected to Yield Deeper Cuts


Tuesday, 26 November 2019 04:08 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices recovered late Monday after a mostly down day, having gained in three of the past four sessions.

Prices remained near the two-month closing highs scored last Thursday as “the trifecta of positivity: U.S.-Sino trade talk optimism, OPEC+ compliance and a sturdy U.S. macro data scrim, should continue to resonate” with oil bulls, said Stephen Innes, chief Asia market strategist with AXI Trader.

West Texas Intermediate crude futures for January delivery closed up 24 cents, or 0.4%, to $58.01 a barrel on the New York Mercantile Exchange. January Brent crude the global benchmark, gained 26 cents, or 0.4%, at $63.65 a barrel on ICE Futures Europe.

Source : Marketwatch


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