Market Insights

November 7, 2016 • Posted in Market Insights

Week of October 24, 2016

  • Oil prices reached a one-year high on Wednesday before falling to end the week (despite a strengthening US dollar which usually weakens prices)
  • OPEC members meet in November to negotiate production cuts
  • OPEC’s efforts may be unsustainable without support from Russia
  • Increases in production from Iran, Nigeria and Libya may offset cuts by others
  • Natural gas prices fell to $3.15 per MMBtu NYMEX faster-than-expect growth in stocks and a mild weather forecast

 

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