Brent Crude Prices Rise Ahead of OPEC+ Meeting; US Crude Trading Disrupted by Exchange Glitch
November 28, 2025130 ViewsRead Time: 2 minutes
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Brent crude futures saw a notable uptick on Friday as investors focus on the ongoing discussions surrounding the Ukrainian crisis and the anticipated OPEC+ meeting scheduled for Sunday. Speculation about possible adjustments to production levels is contributing to market volatility.
As of 09:37 Moscow time, January delivery contracts for Brent crude increased by 0.52%, reaching $63.67 per barrel, despite prevailing uncertainties in the global energy market.
In a contrasting scenario, trading for West Texas Intermediate (WTI) crude faced significant interruptions due to a technical failure at the CME Group exchange. A malfunction in the cooling system at one of the exchange's data centers halted price updates for all futures contracts, leading to considerable confusion among traders.
Last Wednesday, US crude was priced at $59.08 per barrel, reflecting a rise of 0.73%. However, no trading settlement occurred on Thursday due to the Thanksgiving holiday in the United States, which further complicated market dynamics.
Both Brent and WTI crude are on track to record their fourth consecutive monthly decline, marking the longest losing streak since 2023. This trend is attributed to expectations of increased global supply and an ongoing surplus of oil.
Initial indications of a potential peace agreement between Russia and Ukraine led to a decrease in oil prices earlier in the week. However, prices have stabilized somewhat in the past three sessions as negotiations continue.
Market participants are viewing the upcoming OPEC+ meeting as a critical event that may shape oil price trends in the coming weeks. Expectations are building around potential decisions that could alleviate supply pressures and restore stability to energy markets.
As of 09:37 Moscow time, January delivery contracts for Brent crude increased by 0.52%, reaching $63.67 per barrel, despite prevailing uncertainties in the global energy market.
In a contrasting scenario, trading for West Texas Intermediate (WTI) crude faced significant interruptions due to a technical failure at the CME Group exchange. A malfunction in the cooling system at one of the exchange's data centers halted price updates for all futures contracts, leading to considerable confusion among traders.
Last Wednesday, US crude was priced at $59.08 per barrel, reflecting a rise of 0.73%. However, no trading settlement occurred on Thursday due to the Thanksgiving holiday in the United States, which further complicated market dynamics.
Both Brent and WTI crude are on track to record their fourth consecutive monthly decline, marking the longest losing streak since 2023. This trend is attributed to expectations of increased global supply and an ongoing surplus of oil.
Initial indications of a potential peace agreement between Russia and Ukraine led to a decrease in oil prices earlier in the week. However, prices have stabilized somewhat in the past three sessions as negotiations continue.
Market participants are viewing the upcoming OPEC+ meeting as a critical event that may shape oil price trends in the coming weeks. Expectations are building around potential decisions that could alleviate supply pressures and restore stability to energy markets.
