COMMODITY
Crude oil futures end significantly lower ahead of OPEC+ meeting
Dec-03-2022

Crude oil futures ended lower on Friday with cut of over a percent as troubling U.S. manufacturing data and uncertainty over the outcome of Sunday's the Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting weighed on prices. Some pessimism also came in following reports that the European Union agreed on a price cap of $60 for Russian seaborne oil, and there are expectations that this would have little impact.

Benchmark crude oil futures for January delivery declined $1.24 or 1.5 percent at $79.98 a barrel on the New York Mercantile Exchange. Brent crude for February delivery lost $1.31 or 1.5 percent to settle at $85.57 a barrel on London's Intercontinental Exchange.

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