Crude oil prices fall Crude oil prices fell amid signs of deadlock at a technical OPEC meeting in Vienna as the cartel tries to work out an implementation framework for an output reduction dealagreed in September. A sit-down with non-OPEC producers including Brazil and Russia also appeared to end fruitlessly. Risk aversion triggered after the FBI said it is investigating new emails involving Hillary Clinton compounded selling pressure.
Looking ahead, discord among OPEC member states may continue to weigh on oil prices as investors mark down the probability that a coherent supply management effort will practically materialize. Risk appetite looks to be on the mend as S&P 500futures trade firmly higher. The FBI email investigation fiasco remains apotential source of headline risk however. Another risk-off push may punish the WTI contract.