December NYMEX WTI prices are trading marginally higher Monday after recovering some ground during the previous session. December WTI futures ended Friday’s session 98 cents higher at $86.07 a barrel, closing the week more than 1% higher following a three-week slide. Prices had touched a low of $84.13 during Friday’s session. In its latest report, the IMF warned Sunday that oil exporters in the Middle East and North Africa are at risk from a sustained oil price drop, particularly if global economic conditions deteriorate further. December NYMEX WTI crude oil futures have been tied to a fairly narrow range so far this morning, advancing from an intra-day low of $85.83 after printing a high of $86.29, with the market currently trading $86.20 a barrel, up 13 cents on the session.
EasyForexNews Research Team