OctaFX | OctaFX Forex Broker
Open trading account

WTI Crude falls 5% after OPEC meet

FXStreet (Mumbai) - Crude prices in the US extended slide after the Organization of Petroleum Exporting Countries (OPEC) group decided to keep the production levels unchanged.

WTI Crude for January delivery traded 5.18% lower at USD 70.21 at the time of writing. Oil prices were trading weak ahead of the OPEC meet since markets were expecting the group to keep the production levels unchanged at at 30 million barrels a day. Moreover, the Saudi’s Oil Minister had already thrown a light on today’s decision when he mentioned yesterday that “markets would stabilize itself”.

WTI Crude Technical Levels

AUD/USD finds temporary relief - BTMU

Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ noted that the Australian dollar had rebounded modestly in the Asian trading session after falling yesterday to its lowest level against the US dollar since July 2010.
Read more Previous

EUR/USD fails to regain 1.2500

EUR/USD bounced off daily lows and trimmed losses incurred in the wake of disappointing Eurozone data and dovish comments from Draghi, but the recovery has been capped by the 1.2500 level so far.
Read more Next
Start livechat