OANDA - Oil futures commentary

Please attribute the following commentary to Jeffrey Halley, market analyst at OANDA

Another emotional session for oil on Friday, with WTI and Brent Crude, both collapsing around 4%, as neither Saudi Arabia nor Iran appeared to give ground on production cuts.

Monday has started on a more positive note as the headline driven price ping pong continues. Algeria’s energy minister saying all options are on the table. The has seen WTI and Brent rally 0.65% this morning to 44.35 and 46.25 respectively.

With OPEC meeting on the sidelines of International Energy Forum for the next three days, and with the first presidential debate happening tomorrow morning Asia time, expect oil to move on comments that range from hope to reality.

For direct comment, please contact:

Jeffrey Halley

Business Development and Market Strategist

OANDA Asia Pacific

Representative No. HJD30037775

e: jhalley@OANDA.com

t: +65 6579 8288 ext 212121