Commodities
Oil Slips in Risk-Off Mood as Attention Turns to OPEC+ Meeting
- WTI crude in aimless trade ahead of production meeting
- OPEC+ pressing on with informal talks on oil-output cuts
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Oil futures dropped alongside equity markets as traders look ahead to Sunday’s OPEC+ meeting.
Following the US holiday on Monday, oil spent the week swinging in a $3 directionless trade amid muted volumes. West Texas Intermediate fell to settle near $77 a barrel as a lack of fundamental catalysts meant that crude was swayed by broader risk-off sentiment.