Crude Oil Futures Rises amid Decline in OPEC Supply
Contracts for both WTI and Brent advanced on the first day of the trading week, as the world’s largest oil importer showed an upbeat-data and supply from the Organization of Petroleum Exporting Countries (OPEC) dropped to a two-year low in November.
WTI contracts for December rose 0.51% higher to $93.17 a barrel at the time of writing on New York’s Nymex, while the European benchmark Brent climbed 0.39% to $110.12 at the same time in London.
The Chinese industrial activity rose to an 18-month high, as a separate data released show that the HSBC Purchasing Managers’ Index (PMI) for November came in at 50.8.
Read more in our blog http://blog.hymarkets.com/