Crude oil prices continued to fluctuate amidst uncertainty in the demand/supply outlook. Benchmark contracts declined for a second consecutive day as OPEC’s latest report signals that the cartel would unlikely agree to cut production in the meeting in December. The front-month WTI contract fell -2.75% to close at 41.75 while the Brent contract plummeted -3.82% to settle at 44.06.
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US Inventory Build and OPEC’s Reluctance to Lower Output Pressured Oil
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