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Wednesday, 23 November 2016

Crude Oil News and Stock Options Premium Research Call

Oil prices edge up on expectation of OPEC-led production cut

Oil costs edged up on Wednesday in hope of an OPEC-led crude production cut that is wanted to be concluded before the month's over, through trading was thin in front of the US Thanksgiving occasion on Thursday.

US West Texas Intermediate (WTI) crude ooil futures were exchanging at $46.13 at 0128 GMT, up 10% from their last settlement.

Global Brent crude oil futures were at $49.22 a barrel, up 10%. Brent could ascend to $49.85 per barrel, a level set apart by a few specialized resistance components. 

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Regardless of Wednesday's slight expands, analysts said that the market was as of now unwilling to push crude costs to $50 a barrel or higher.

"Today's (US) EIA Crude Inventory numbers should to give a welcome, yet impermanent sideshow to the OPEC headliner. Else, we predict that Asia will proceed with the sideways exchanging ranges,"

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