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11/23/2023, 3:32 PM (Source: TeleTrader)
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Oil prices extend losses, WTI down more than 2%

Prices of oil futures extended their losses on Thursday as the West Texas Intermediate (WTI) and the Brent were trading down by 2%.

Earlier, the Organization of the Petroleum Exporting Countries and its oil-producing partner nations (OPEC+) said the meeting scheduled for November 30 would be held in an online format, while Nigeria's OPEC governor stated he has no knowledge of disagreements in OPEC+, contrary to previous reports of some dissent between Nigeria, Angola, and Congo, regarding the increase of their 2024 supply quotas.

For settlements in January 2024, the WTI dropped by 2.10% to $75.45 per barrel, and Brent fell by 2.01% to $80.30 per barrel at 9:21 am ET.

Baha Breaking News (BBN) / JG