Futures Movers: Oil prices head lower as traders monitor U.S.-Saudi tensions [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Oil prices head lower as traders monitor U.S.-Saudi tensions Oil futures headed lower on Monday, ahead of the expiration of the November U.S. benchmark contract, as traders took stock of U.S.-Saudi tensions over the killing of journalist Jamal Khashoggi. Several U.S. lawmakers from both sides of the aisle called for sanctions on the kingdom over the weekend as Treasury Secretary Steven Mnuchin prepared to visit Saudi Arabia Monday. Mnuchin told reporters that the administration’s relationship with Saudi Arabia was critical to the U.S. plan to thwart Iran’s effort to become the region’s dominant power, according to news reports . Even so, tensions between Saudi Arabia and the international community are “not expected to trigger any meaningful disruption to crude supply and export flows," said Robbie Fraser, commodity analyst at Schneider Electric, in a daily market update. Saudi energy minister, Khalid al-Falih, told Russia’s TASS news agency that there was no intention to repeat the 1
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