Futures Movers: Global oil prices drop as OPEC appears close to deal on higher output [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Global oil prices drop as OPEC appears close to deal on higher output Global oil prices headed sharply lower on Thursday, after media reports said Iran might accept a modest increase in production at this week’s OPEC summit. Benchmark U.S. oil prices, however, struggled for direction, pressured by a potential rise in output from the Organization of the Petroleum Exporting Countries, but finding some support after the Energy Information Administration reported Wednesday a drop of 5.9 million barrels in U.S. crude supplies—the l argest weekly decline since January . August West Texas Intermediate crude CLQ8, -0.23% was up 6 cents, or less th an 0.1%, at $65.77 a barrel on the New York Mercantile Exchange after trading as low as $64.34. August Brent LCOQ8, -1.63% was off $1.38, or nearly 1.9%, at $73.36 a barrel on the ICE Futures Europe exchange. Delegates from OPEC and a group of non-OPEC countries led by Russia are gathering in Vienna to discuss the future of their output targ
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