Market News and Commentary December 9

The U.S. Just Became A Net Oil Exporter For The First Time In 75 Years. OPEC works on deal to cut output, still needs Russia on board. Crude prices rally 4% as Russia, Saudis signal output curbs. Russian Energy Minister Alexander Novak confirmed the combined output cuts of 1.2 million bpd, saying that the market will be oversupplied through the first half of the year. Trump calls truce in China trade war a big success, but little is known about the deal. Shares spiral on arrest of China executive; oil sinks as output decision delayed. Trump’s China car tariffs claim sows confusion. Qatar to leave OPEC and focus on gas as it takes swipe at Riyadh. Israel has been building defensive obstacles along a roughly seven-mile stretch of its border with Lebanon since 2015.

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