Commodity Capsule| Brent crude range-bound; gold, copper steady | Watch video
Commodity Capsule: Traders speculated on whether OPEC+ would come to an agreement on further production cuts.
Commodity Capsule: Brent crude futures are range bound on Friday, after two trading sessions of weak closing.
Traders speculated on whether OPEC+ would come to an agreement on further production cuts.
Brent crude futures traded under $82 a barrel. There was no settlement for WTI on Thursday as it was a U.S. public holiday.
Both contracts are on track to mark their first weekly rise in five, supported by expectations that OPEC+ could reduce supply to balance markets next year.
OPEC+, on Wednesday, postponed a ministerial meeting by four days to Nov. 30, after producers struggled to come to a consensus on production levels.
China's longer-term outlook is lukewarm. Experts see oil demand growth weakening to around 4 per cent in the first half of 2024
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