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Oil Prices Edge Upward Despite OPEC Revision

Oil Prices Edge Upward Despite OPEC Revision
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WTI slips from European morning highs but remains supported above $46 00

12/14/2020 6:03:41 PM GMT | By Joel Frank Crude oil markets have been choppy on Monday, buffeted by swings in broader macro sentiment. WTI has slipped from European morning highs in the $47.40s back to the mid-$46.00s since the start of the US session. Prior to the start of the US session, front-month WTI crude oil futures hit highs of the day just below $47.50. However, the crude oil complex sold off sharply following the NYMEX pit opening (at 14:00GMT), briefly even slipping below the $46.00 level, before recovering back to current levels around the $46.50 mark, about a dollar below earlier highs but still marginally higher on the day.

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