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Brent in red, but ignores Saudi Aramco comments

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Brent oil prices ratcheted lower in Europe, but did not react to the latest comments from Saudi Aramco.

    At the time of writing, Brent Jan futures were down 20 cents at USD 45.97/barrel. Prices hit a low of USD 45.58/barrel a few minutes back, before recovering to near USD 46.00 levels.

    Saudi Aramco CEO said the producer will not cut production in 2016, but will meet customer's demands. However, the comments have not had a weakening effect on the oil prices so far.

    Across the pond, the WTI Jan futures were trading largely unchanged on the day around USD 43.06/barrel.
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