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08:35
11/28/16
11/28
08:35
11/28/16
08:35

Energy Action: NYMEX crude

Energy Action: NYMEX crude gapped down to better than one-week $45.16 lows at the Asian open overnight, and has since recovered to $46.70 highs. Volatility has remained high of late, as the market attempts to guess the outcome of Wednesday's official OPEC meeting in Vienna. The cartel agreed to cut production by over 1.0 M bpd at its meeting last month, though with Iran, Iraq and non-OPEC member Russia's cooperation not secured, the meeting outcome remains up in the air. As a result, oil prices will likely continue to gyrate.

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