Crude Futures Turn Lower Ahead Of OPEC Meet >> Equity Trading Tips

Crude oil futures turned lower on Monday, ahead of OPEC's meeting in Vienna. The cartel is expected to discuss its supply quota plan with Russia. Traders continue to lose faith in OPEC’s ability to stem the glut supply amid a producers meeting to discuss waning compliance with the deal curb production. Also weighing on oil prices were fears of falling demand for crude as the U.S. summer driving season nears an end.

Benchmark crude oil futures for October delivery ended down by $1.14 or 2.4 percent to $47.37 on the New York Mercantile Exchange. In London, Brent crude for October delivery ended lower by $1.08 at $51.62 a barrel on the ICE.

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