3:58 PM · 29 November 2019

Breaking news: Oil sinks nearly 3%

Russia's Novak says he favors taking OPEC+ extension decision closer to April

In addition the Interfax news agency cited kazakhstan's energy ministry said that Kazakhstan's Kashagan oilfield will resume oil production of 400,000 barrels per day by mid-December.

Oil price sinks nearly 3%. The nearest support to watch is $55.5 handle, where lies the lower limit of Overbalance structure (green rectangle).

Oil WTI H4 interval. Source: xStation5

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BREAKING: Big drop in oil inventories, Brent back above $80

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Oil prices consolidate in anticipation of the opening of the Strait of Hormuz

Commodities

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