From Investing.com: 2024-12-02 02:19:00

OPEC+ will discuss output policy for 2025 this week, impacting price direction. European gas prices rose Friday due to concerns over a tighter balance. Oil prices dropped over 3.7% last week with a narrow trading range. Speculative positioning in ICE Brent and gasoil saw minimal changes. Russian government allows gasoline exports from January, extending export bans for other products. European gas prices rallied on Friday due to concerns over supply and storage levels. Iron ore prices rose 8% over two weeks supported by higher steel mill profitability. Chile’s copper production increased 6.7% YoY in October. Base metal inventories fell except for nickel on the SHFE. EU grain production estimates for 2024/25 season have increased, with higher corn production. US weekly net export sales show strong demand for soybeans, while corn and wheat exports fell.



Read more at Investing.com: Oil Markets on Edge Amid OPEC+ Output Policy and European Gas Concerns