(Oil price) Conflict trading ahead of OPEC meeting at the end of the month

(Oil price) Conflict trading ahead of OPEC meeting at the end of the month


SINGAPORE, Nov. 20

Traders are reluctant to take a new position ahead of the Organization of Petroleum Exporting Countries (OPEC) talks at the end of the month.

As of 10:03 am, the Brent futures LCOc1 and US crude oil futures CLc1 are trading at $ 62.60 a barrel, down 0.32 percent, and $ 56.60 a barrel, up 0.1 percent.

Traders say, "We are reluctant to take large new positions due to market uncertainty."

Comments

Post a Comment

Popular posts from this blog

(US stocks / closed) Three major indexes ... Concerns about US tax reform

(US stocks / closed) Three major indexes ... Concerns about US tax reform NEW YORK, Nov. 18 (Reuters) - The number of shares in the New York Stock Exchange fell sharply in a day. Without special materials to move the market, investors focused on uncertainty about tax reforms. The Dow Jones industrial average fell 100.12, or 0.43 percent, to 23,358.24. The Standard & Poor's 500 index fell 6.79p, or 0.26 percent, to 2,578.85. The Nasdaq composite index fell 10.50, or 0.16 percent, to 6,782.79. Matt Lloyd, senior investment strategist at Advisor Asset Management, said investors are likely to remain in position, saying it is unlikely that new bets will be seen as the trading volume declines for next week's Thanksgiving holiday. "The main factors that will have the greatest impact on the stock market are the Senate and the House of Representatives," he said. "Everyone is interested in whether the House and Senate will pass the tax reform bill and bring i
Read more

(Metal) Gold rose 3-month maximum ... "Uncertain tax reform"

(Metal) Gold rose 3-month maximum ... "Uncertain tax reform" NEW YORK / LONDON, Nov. 18 (Reuters) - Gold prices rose on Thursday (local time). The US dollar weakened due to uncertainty over US tax reforms. Gold futures rose 1.4 percent to $ 1296.50 an ounce. Gold spot prices rose 1.2 percent to $ 1293.53 an ounce in late New York trading. It is the maximum daily rise since August 28th. The price hit a record high of $ 1297 a barrel since the 16th of last month. The weekly rate climbed 1.3%, the biggest weekly gain since mid-last month. Tai Wong BMO Capital Market Jewelery Trading Head said, "Investor sentiment has shifted toward the weaker dollar, with the possibility of reducing the number of Republican seats in which the overwhelming majority of Senate elections result in a bare minimum". "The gold price will be able to test the $ 1310 line, a crucial medium-term resistance early next week," he said. The previous day, the House of Representatives a
Read more