Monday, December 7, 2015

Oil slumps to near seven-year low on OPEC inaction, dollar

News
Today slump to a near seven-year is part of a long-term down impulse that began on the third week of August 2014, Review of Crude Oil. Insights follows the trends, not daily trading noise.





Headline: Oil slumps to near seven-year low on OPEC inaction, dollar

Crude oil futures tumbled to their lowest in nearly seven years on Monday after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions.

Brent and U.S. crude futures fell as much 5 percent in belated reaction to the Organization of the Petroleum Exporting Countries' (OPEC) policy meeting on Friday which ended without an agreement to lower production.


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