The U.S. markets were closed yesterday as a result of the Labor Day Holiday yet we saw that oil prices slightly gained as a result of the stock markets gaining alongside a weaker dollar which meant that oil became a cheaper investment to traders since it is priced in dollars. Although a weak dollar should have boosted oil prices further but as a result of the holiday, trading was light while the attention is on the OPEC meeting scheduled for tomorrow in
The highlight of this week is on tomorrow's meeting as OPEC is anticipated to keep production output steady since the
Black gold market prices remain calm ahead of tomorrow and even if they do climb they will once again tumble in the long term as a result of the global recession that is weighing on energy products demand therefore pressuring prices.
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