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
🚩 Oil falls 2% to its lowest level since late August. What’s next?
🔴Chart of the Day: NATGAS: Are we in for a weather-driven short squeeze?
📈Morning Wrap: Tech Bounce and Oil Price Collapse Following Signals of De-escalation Around Iran
Daily Summary: From Panic to Euphoria. The Market Recoups Losses.