By: Mahmoud Gamal
Mubasher: Oil prices saw a mixed performance amid increasing as doubts grew over OPEC production cuts, as well as the rise of US dollar as investors are more confident that Democratic nominee Hillary Clinton will win.
US West Texas Intermediate (WTI) crude fell 2 cents or 0.04% to $44.87 per barrel (pb), whereas Brent crude rose 8 cents or 0.17% to $46.23 pb.
Republican candidate Donald Trump’s chance of winning declined as the Federal Bureau of Investigation (FBI) cleared Democratic nominee Hillary Clinton in the investigation stemming from her use of a private email server, according to analyst Badr Draz.
OPEC will hold a meeting in November to discuss the implementation mechanism of production cut agreement, the analyst added.
Oil prices are expected to rise amid expectations that the US weekly crude inventories will decline, Draz noted.
Translated by: Julian Nabil
