Brent Slipped on OPEC Meeting Results

By International Business Times,  December 13, 2012, 08:09:56 AM EDT

Brent crude oil slid to $109.24 on Thursday morning, after touching $110 on Wednesday.

The lift on Wednesday was credited to the Fed's announcement that it would move forward with plans for more monetary stimulus. The news boosted global markets which in turn supported Brent prices.

However, the increase was short lived as the commodity slid in the early hours of Thursday morning while investors shifted their focus to the upcoming U.S. fiscal cliff. Democrats and Republicans have not reached an agreement about the nation's deficit, causing uncertainty within the number one oil consumer's markets.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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