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Oil ends steady; Saudi pledge, glut worry causes wild ride

Oil ends steady; Saudi pledge, glut worry causes wild ride
November 23
21:00 2015

Brent settled steady and U.S. crude slightly lower on Monday after prices were whipsawed by volatility as Saudi Arabia pledged to work toward oil price stability but traders worried about a global supply glut and signs of rising U.S. stockpiles.

Crude rallied early after Saudi Arabia pledged to work toward oil price stability. A run-up in U.S. gasoline and ultralow sulfur diesel (ULSD) futures also boosted the petroleum complex.
Read more at Reuters http://www.reuters.com/article/2015/11/23/us-global-oil-idUSKBN0TC00O20151123#hr0rOHxGzeKGGL9d.99

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