Oil prices at both the sides of the Atlantic retreated after Saudi Arabia said it was ready to raise output further if needed.
Front month Brent crude fell 29 cents or 0.45% to USD 64.80/barrel., while WTI crude fell 57 cents or 0.93% to trade at USD 60.20/barrel.
WTI crude prices rose to high of USD 61.82/barrel earlier this week as firm demand and a strong US stock drawdown lifted the market. But the rally was halted today after Saudi Arabia once again expressed readiness to supply more in case demand rises.
October 25, 2016 Oil rally fizzles out as OPEC efforts seen sterile
The Oil prices retreated on Monday during the Asian trading session as the investors started opting to cut bullish wagers because the doubts gathered about the inability to produce significant changes in the output freeze agreement unless the demand does not increase...
October 25, 2016 Policy divergence
The policy divergence play that is EURUSD was more stable at the early part of the week, this following on from the break below the 24th June low that has marked the major support point and especially over recent days...
October 24, 2016 A volatile week ahead
Global stocks were resilient last week Friday with major arenas clawing back gains following the upbeat corporate earnings and stabilising oil prices which revived risk appetite...
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