Reply To: Traders Market Weekly: Squeeze Dynamics and Market Fragility

#68022
Truman
Participant

Every sector finished the session higher with the exception of the energy sector (-0.1%).

Gains for the other sectors ranged from 0.1% to 0.9%.

The energy sector trailed all day amid a roller-coaster session for oil prices, which traded as low as $73.90 per barrel before settling the session at $77.05 per barrel, down just 0.7%.

A report that OPEC+ is delaying its weekend meeting until November 30 triggered the initial sell-off as Bloomberg suggested the delay was due to Saudi Arabia’s dissatisfaction with the oil production levels of other members.