Oil rallies on OPEC deal; bonds end dismal November
Wednesday, 30 November 2016 By Richard Leong | NEW YORK NEW YORK Oil prices jumped around 9 percent on Wednesday as OPEC members sealed a deal to cut production, while upbeat U.S. economic data and comments from the U.S. Treasury Secretary nominee triggered a bond market sell-off, marking a miserable November for Treasuries.Higher crude prices bolstered shares of energy producers and stock prices around the world, with the Dow and S&P 500 stock indexes touching record highs.An improving view on global growth, led by the United States on hopes of tax cuts and federal spending under a Trump administration, rekindled the dollar's advance toward a near 14-year peak."Everything seems to be coming together for more growth and risk appetite," said Larry Milstein, head of agency and government trading at R.W
The post Oil rallies on OPEC deal; bonds end dismal November
| Reuters appeared first on Firstpost.
Oil prices have fallen almost 4 percent on signs leading oil exporters in OPEC were struggling to agree on a deal to cut production to reduce global oversupply. As Laura Frykberg reports, Brent saw the biggest daily percentage decline since early September.
Saudi Arabia’s Oil Minister Khalid al-Falih is meeting with Iraqi Oil Minister Jabar Ali al-Luaibi in Baghdad on Monday as OPEC’s de facto leader is trying... OilPrice.com - MarketsAlso reported by •Bangkok Post
VIENNA (Reuters) - An OPEC panel reviewing scenarios for next week's policy-setting meeting is looking at the option of deepening and extending an OPEC-led deal... Reuters - Front PageAlso reported by •Reuters India •Zero Hedge •VOA News