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Crude marginal 2 cent gain

Posted on: November 14, 2017

The US shale production was what weighed down WTI to settle almost unchanged at $56.76. The Permian Basin saw a surge and the rig count increased by 9 to 738 according to Baker Hughes on Friday. With the next OPEC-Russia meeting coming up at the end of the month, be wary of headlines that will surge volatility, especially with all the geopolitical tensions in the Middle East not limited to the Anti-Corruption drive.

Last month's OPEC output cut compliance was 105% according to Bloomberg calculations (IEA). Russia was near 100% compliance as well. WTI prices may be "walking on eggshells" for the next few weeks until a more definitive outcome, if any, is decided upon at the meeting.

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Most Recent Market Updates

November 20, 2017

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NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

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November 17, 2017

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