OPEC fails to nail deal
OPEC failed to reach an agreement after hours of talks on Friday, amid objections by Iran, which has been reluctant to even freeze its output. They will meet again in Vienna on November 25 ahead of the next meeting of OPEC ministers on November 30, to "finalize individual quotas”.
· Despite the break from , the subsequent lack of momentum in the wake of OPEC news indicates prices could not only re-enter the , but could also revisit support around $49.63-$49.30.
· On the higher side, only a break above $50.87 would bring in fresh buyers and open doors for $51.80-52.00 levels.