Saturday, 2 December 2017

Oil Settles Up But Off Highs As Flynn News Spooks Wall Street

Oil prices settled up slightly on Friday, but came off session highs as financial markets reeled from an ABC News report that added to concerns about President Donald Trump's exposure to a probe into Russian meddling in last year's campaign. Brent crude rose as high as $64.32 a barrel, the day after OPEC and other crude producers agreed to extend output cuts until the end of 2018 to tighten global supplies and support prices.

But oil pared gains as Wall Street stocks slid following an ABC report that former national security adviser Michael Flynn was prepared to tell investigators that prior to taking office, Trump directed him to make contact with Russians.

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