Futures in New York rose as much as 1.5 percent, extending Monday’s 4 percent gain. An agreement between Saudi Arabian Crown Prince Mohammed bin Salman and Russian President Vladimir Putin over the weekend raised the possibility of an output accord when OPEC and its partners meet in Vienna on Dec. 6. Prices also received a boost after Canada’s Alberta province announced plans to cut production by 325,000 barrels a day.
Crude Oil Prices
Crude Oil Jumps – Russia, Saudis Agree to Extend Alliance, But without specifics
Oil surged the most in more than five months as Saudi Arabia and Russia extended a cooperation pact and U.S.-China trade tensions cooled. Unprecedented supply cuts in Canada also drove prices higher.
Crude Oil Advances as Russia Shows Willingness to Join Saudis On Cuts
Gold Silver Reports (GSR) Russia wants more predictability and “smooth price dynamics” in world crude markets, Deputy Foreign Minister Sergei Ryabkov said in an interview in Argentina.
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Bonds Poised To Fall On Surge In Oil Prices
Gold Silver Reports (GSR) – Bonds Poised To Fall On Surge In Oil Prices – Indian bonds are poised to fall as a surge in global crude oil prices spurs concern that inflation will accelerate………. Crude Oil prices jumped on Tuesday as the U.S. pressed allies to end all imports of Iranian oil by a November deadline and said it didn’t want to offer any extensions. The 10-year bond yield climbed for a third day yesterday, rising 1 basis point to 7.83 percent……….