Market Participants did not expect OPEC to accomplish much when the cartel convened yesterday in Vienna. Despite the September provisional agreement to limit output, heading into the summit, cartel members still appeared to have significant disagreement as regards to who will cut how much. The largest hurdle, Iran and Iraq wanted exemption to a production reduction while de-facto cartel leader Saudi Arabia wanted every member to cut back. Read more about Vienna Compromise Fuels Oil 12-01-16
Election Night was certainly a wild ride for market participants; stock futures plunged 5 percent as Donald Trump looked increasingly likely to win. His acceptance speech in the wee hours of the morning, however, turned the markets around.
Read more about Get Ready for Inflation 11-10-16
Stocks and oil have come under pressure while precious metals have rallied this week, caused by heightened uncertainty over next Tuesday’s election and OPEC discord once again. Read more about Election and OPEC Drama Shakes Up Markets 11-03-16