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Investing.com – Here are the top five things you need to know in financial markets on Friday, December 7:
1. Crude Oil Prices Slump as OPEC Fails to Reach a Deal
Oil prices continued to fall on Friday, as the Organization of the Petroleum Exporting Countries (OPEC) struggled to come up with an agreement on cutting oil production.
West Texas for January slumped 0.43% to $51.27 a barrel, while futures, the benchmark for oil prices outside the U.S., rallied 0.17% to $60.16.
The Thursday session of the OPEC meeting in Vienna ended without any decision on cutting oil supply, as Iran seeks an exemption from any cuts due to U.S. sanctions which have already weighed on its exports.
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