Page 39 - John Kilduff News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Oil fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium ahead of next week's OPEC+ meeting to decide on production cuts in 2024. Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while U.S. West Texas Intermediate crude fell $1.56, or 2%, from Wednesday's close to $75.54. The first group of hostages freed from captivity in Gaza returned to Israel on Friday, on the first day of a planned four-day truce during which further exchanges of hostages for Palestinian detainees are due to take place.

OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels

Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while US West Texas Intermediate crude fell $1.56, or 2%, from November 22's close to $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday.

A "stunned" oil market is looking for stability after OPEC's meeting delay as traders digest the "carnage that the price action has endured," according to PVM.

HOUSTON: Oil prices climbed more than 2% on Monday (Nov 20) as further supply cuts in Opec+ production are expected to be announced following a meetin...