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MarketWatch 12/04/2019 14:44
Oil futures settled sharply higher on Wednesday, with U.S. prices at their highest finish in almost two weeks as U.S. government data showed the first decline in domestic crude supplies in six weeks. Traders also weighed the possibility that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will announce deeper production cuts or an extension of their current output-cut pact, or both, as they gather over the next two days. A report from The Wall Street Journal Wednesday, meanwhile, suggested that the Saudis may start to comply with their quota commitment, potentially leading to an output boost, as they has been cutting more than required to make up for producers who weren't reducing output as much as pled.
More from MarketWatch:
An Iowa man pleaded guilty today to a fraud charge for his role in a crude oil futures trading scheme, announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Inspector in Charge Delany DeLeon-Colón of the U.S. Postal Inspection Service’s Criminal Investigations Group in Washington.
FP Trading Desk (Canada) 11/06/2019 10:32
(Bloomberg) — Oil-rich Abu Dhabi plans next year to start a commodities exchange to offer trading in the emirate’s first crude futures contract. The platform will be based in Abu Dhabi’s financial district and operated by Intercontinental Exchange Inc., according to people with knowledge of the situation. Atlanta-based ICE will be the majority owner, with […]

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