Monday, November 21

The renewed prospect of a successful production cut in the OPEC nations resulted in a modest gain in Crude and Natural Gas, with UGAZ opening 2.00 higher over the weekend. Daytime growth was muted by the upcoming holidays – volume was 60% down from a typical trading day, but UGAZ steadily gained another 1.00 during the day.

Extended-hours sessions indicate that this trend will continue at least into tomorrow, but we have yet to see if the wording of any OPEC agreement has any real effect on member countries. News over the weekend indicated that many member countries may have been exaggerating their current production in order to strengthen their bargaining positions going into this weeks meeting.

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