Crude Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth “for some time”.
Brent crude futures
Crude Oil Plunges to Lowest Since 2017 After Russia Rejects Steep OPEC Cut
Russia balked at OPEC’s proposed steep production cuts to stabilize prices. A Russian high-level source told Reuters that Moscow would not back a call for extra reductions in oil output and would agree only to an extension of existing cuts by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+.
Crude Oil Slip But Markets Remain Hold Above $71
Gold Silver Reports (GSR) – Crude Oil Slip But Markets Remain Hold Above $71 — U.S. West Texas Intermediate (WTI) crude futures were at $72.54 a barrel at 0253 GMT….., down 22 cents…, or 0.3 percent from their last settlement.