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Crude gained $1.41

Posted on: November 20, 2017

Crude prompt futures gained $1.41 on Friday to close the day at $56.55. Brent settled at $62.72, gaining $1.36. With the formal OPEC meeting scheduled for November 30, rumors continue to fly on the potential outcome, and we expect to see increased volatility leading up to the formal meeting. Saudi Arabia has made their position known, looking to extend the production cut agreement which expires next March. Russia remains unconvinced and hesitant that a decision needs to be made immediately.

There was no change in the oil rig count for the US last week as reported by Baker Hughes.


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

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Crude prompt futures traded in a 69 cent range.

November 17, 2017

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Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

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Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


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