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“Now we’re starting to get uncertainty on both the trade and production cut fronts and the market is giving back those gains,” said Gene McGillian, director of market research at Tradition Energy in Stamford, Connecticut. “Some of the optimism surrounding the easing of trade tensions seems to be evaporating.”. U.S. crude CLc1 settled up 30 cents at $53.25 a barrel after a volatile session that saw the benchmark rally 3 percent to $54.55. Brent crude oil LCOc1 rose 39 cents to settle at $62.08, after earlier touching a session high of $63.58 antique cufflink styles uk online. In post settlement trading, both benchmarks edged slightly lower..

Ahead of the OPEC meeting, Saudi Oil Minister Khalid Al-Falih said it was too soon to be certain that OPEC and other oil exporters would cut production because the terms of a deal remain unresolved. Al-Falih said he thought the market was oversupplied but he cautioned that all members of OPEC and its allies needed to come together for a cut to go ahead. Trump has put pressure on Saudi Arabia to keep prices low, blaming the kingdom for rising prices antique cufflink styles uk online. “A cut in OPEC and Russia production of 1.3 million bpd will be required to reverse the ongoing counter-seasonally large increase in inventories,” Goldman Sachs said in a note..

It added that it expected a joint effort by OPEC and Russia to withhold supply to push Brent oil prices “above the mid-$60 per barrel level”. Helping OPEC in its efforts to rein in emerging oversupply was an order on Sunday by the Canadian province of Alberta for producers to scale back output by 325,000 bpd until excess crude in storage is reduced. OPEC’s biggest problem is surging production in the United States, where output – mostly from its shale fields – has grown by about 2 million bpd within a year to more than 11.5 million bpd. C-OUT-T-EIA antique cufflink styles uk online.

NEW YORK (Reuters) – Global stocks tumbled on Tuesday as a flattening Treasury yield curve sparked recession warnings, while optimism sharply waned that the United States and China would quickly resolve their trade dispute antique cufflink styles uk online. Benchmark Treasury 10-year yield fell to its lowest point since mid-September. The spread between the 10-year yield over its two-year counterpart also shrank to the smallest since the start of the financial crisis in January 2008, signaling to some investors an approaching U.S. economic slowdown..

“Today is the perfect storm,” said RJ Grant, head of trading at Keefe, Bruyette & Woods in New York. “You’ve nothing really tangible coming out of the G20 summit. You have worries about growth.”. MSCI’s gauge of stocks across the globe shed 2.16 percent, its worst performance since October 11. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to 25,027.07, the S&P 500 lost 90.31 points, or 3.24 percent, to 2,700.06 and the Nasdaq Composite dropped 283.09 points, or 3.8 percent, to 7,158.43 antique cufflink styles uk online.