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Global markets: Crude holds near highs

By Commodity News Service Canada

WINNIPEG, December 28 – The following is a glance at the news moving markets globally.

– Crude oil futures were mostly unchanged in early activity on Wednesday. The market was holding near its highest level since mid-2015, analysts say.

OPEC (Organization of the Petroleum Exporting Countries) producers are expected to cut output in the New Year, which underpinned the market.

Market watchers expect trade will be light heading into 2017.

– Japan’s factory output increased from the previous month in November, according to reports on Wednesday, which market watchers say may indicate the country’s economic outlook is firming.

Japan’s industrial output increased 1.5 per cent from October to November, which was mostly in line with analyst expectations.

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