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- WTI crude oil declines for a fifth day
WTI crude oil declines for a fifth day
Oil prices traded mixed on news that Russia will meet OPEC countries in Vienna on Wednesday. Russia and OPEC countries could discuss price floors and production cuts as Russian Energy Minister Alexander Novak said on Thursday that Russia is ready to these discussions.
Meanwhile, market participants continued to eye the U.S. crude oil inventories data. According to the U.S. Energy Information Administration's (EIA), U.S. crude inventories increased by 7.56 million barrels to 468.6 million in the week to October 09. It was the third consecutive increase.
WTI crude oil for November delivery declined to $46.16 a barrel on the New York Mercantile Exchange.
Brent crude oil for November increased to $49.90 a barrel on ICE Futures Europe.
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