Oil prices weaker after OPEC+ meeting

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Crude oil prices closed slightly weaker yesterday evening (September 1) after OPEC and allies announced at their meeting yesterday to maintain the policy decided in July. This was already expected in the run-up to the meeting.

Brent crude futures for November fell 4 cents, or 0.1%, to $71.59 a barrel.

WTI crude oil futures for October rose 9 cents, or 0.1%, to $68.59 a barrel.

At the meeting on oil production policy yesterday, resulted in no further increase in output for this year. Thus, the already decided in July production volume increase 400,000bpd per month until the end of the year remains in place. The agreement caused volatility in the oil market yesterday evening.

Oil prices also played a role, as U.S. crude oil inventories fell more than expected. And variants of the COVID-19 virus epidemic continue to cause uncertainty.

The Spot Market is Open

Thursday.2 Sep-2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
08.20
1,815.30
1,816.30
+0.70
0.04%
1,813.10
1,816.70
Silver
08.20
24.16
24.26
+0.05
0.19%
24.09
24.27
Platinum
08.20
994.00
1,004.00
-2.00
-0.20%
992.00
1,007.00
Palladium
06.10
2,380.00
2,530.00
-2.00
-0.08%
2,376.00
2,540.00
Rhodium
05.00
16,000.00
18,000.00
0.00
0.00%
16,000.00
18,000.00
Energy

Updated at


Price


Change


%Change
Crude Oil
08.20

67.98

-0.61

-0.89%

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