- Analytics
- News and Tools
- Market News
- Oil prices jump more than 5%
Oil prices jump more than 5%
Oil prices rose on news Venezuela has contacted other OPEC members to hold an emergency meeting and that Shell shut down two key pipelines in Nigeria. The reason for shutdown were a leak and theft.
According to The Wall Street Journal, Venezuela has contacted other OPEC members to hold an emergency meeting in coordination with Russia. Russia is not a member of OPEC.
It should be discussed how OPEC could stem a drop in oil prices.
Most OPEC members can't balance their budgets with oil prices at current levels.
The next OPEC meeting is scheduled to be on December 4.
Market participants are awaiting the release of the number of active U.S. rigs later in the day. The oil driller Baker Hughes reported that the number of active U.S. rigs rose by 2 rigs to 674 last week. It was the fifth consecutive increase.
WTI crude oil for October delivery increased to $44.69 a barrel on the New York Mercantile Exchange.
Brent crude oil for October rose to $50.02 a barrel on ICE Futures Europe.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
