OGJ NEWSLETTER

Oil markets continue to react strongly to the perception of a glut. Nymex light sweet crude for January delivery dropped to $14.95/bbl Dec. 1 from $15.48/bbl the day prior, inched up 2cts/bbl Dec. 2, then dropped 40cts to $14.57/bbl Dec. 3. That's the lowest since Nymex WTI next month delivery closed at $13.97/bbl Nov. 23, 1988.

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