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Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting

From reuters.com

Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $52.66 per barrel at 0140 GMT, down 23 cents, or 0.4 percent, from their last close. International Brent crude oil futures LCOc1 were down 7 cents, or 0.1 percent, at $61.49 per barrel. Traders said oil prices were being weighed down by weak global financial markets, which saw stock markets tumble on ... (full story)

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  • Category: Fundamental Analysis