Oil Unchanged After Week of Losses

Brent crude was little changed after falling for four of the past five days. OPEC is poised to keep its oil-production target unchanged at its meeting this week, according to a Bloomberg News survey.
Futures earlier rose as much as 0.7 percent in London after China’s Purchasing Managers’ Index registered 51.4, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday, a result that exceeded 24 out of 26 projections in a Bloomberg survey. OPEC will decide on Dec. 4 whether to keep its output limit at 30 million barrels a day. Brent’s premium to West Texas Intermediate narrowed for a third day after widening to the most in almost nine months.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza