Crude Futures Start the Week Cautiously -- Market Talk

Dow Jones11-25 21:23

0823 ET - Oil futures are lower at the start of a shortened trading week for the U.S. with focus on geopolitical tensions in Europe and the Middle East and the OPEC+ meeting scheduled for December 1. "The consensus on OPEC+ to further roll out the extension for cuts is strong," Mukesh Sahdev of Rystad Energy says in a report. "OPEC+ is likely to proceed cautiously, extending production cuts for another one to two months with a strong focus on compliance, balancing crude exports vs. product exports, while closely monitoring ongoing conflicts in Russia-Ukraine, Gaza and Israel-Iran." WTI is off 0.3% at $71.02 a barrel and Brent is 0.2% at $75.02 a barrel. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

November 25, 2024 08:23 ET (13:23 GMT)

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