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Crude Oil Prices Fade Despite OPEC-Cut Reports, US Stock Build Eyed

From dailyfx.com

Crude oil prices found initial support Wednesday on the preceding US session’s news that more production cute were under consideration by major producing nations. However they soon went into modest reverse. Concerned about prospects for weak demand growth next year, OPEC and others will consider whether to make deeper reductions than those already agreed when they meet in December. Bulls liked that prospect, but worries about a continued US inventory build constrained the market in Asian time, as did renewed worries about Brexit. The latest deal has been constrained by further political delay in London. Official US ... (full story)

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