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Oil stays soft despite OPEC supply plans
Oil prices struggled to gain a foothold despite OPEC plans to cut production. Metals suffered following the reiterated hawkish rate stance from the Fed last week, which pushed the US dollar to a 16-month peak. The agricultural sector is supported by bad weather hampering harvests but capped by rising stockpiles. Energy CRUDE OIL touched the lowest in almost nine months yesterday, despite weekend comments that Saudi Arabia plans to reduce crude oil production by 500,000 barrels per day in December, and OPEC+ plans to trim oil supply going in to 2019. Oil attempted a rebound yesterday but that proved short-lived, and ... (full story)