Future contracts are high with possible expansion of the OPEC agreement

With the proximity to a meeting of important OPEC producers to discuss possible expansion in the agreement to cut the bid, initiated at the end of last year, future oil contracts operated with earnings on Tuesday, November 21st.

The oil WTI for January rose 0.27%, to us $56.57 the barrel, in the New York Mercantile Exchange (Nymex), while Brent for January was advancing 0.23%, to us $62.36 the barrel, on ICE. On Thursday, the markets will be closed in the U.S. because of the national holiday, which can reduce turnover in the week.

The partial closure of the Keystone pipeline, from TransCanada, after an oil spill last week, also offered a boost to commodity prices. However, it is the outcome of the OPEC meeting that has left investors anxious about the price rise of the barrel.

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