Oil Slips As Stockpile Grows, Gold Gains – 27 November, 2019

U.S. oil production hit a record causing prices to fall for a second straight session. Crude stockpiles in the U.S. added 1.6million barrels to its record high 12.9 million barrels per day. Analysts had initially forecasted a 418,000 barrel drop. International Brent crude futures shed 18 cents to $63.88 per barrel, down 0.3% after falling 0.3% the previous day. U.S. West Texas Intermediate crude was down 24 cents to $57.87, adding an additional 0.4% drop to the 0.5% it slipped the previous day. In other commodity news, gold rose by 0.22% to $1,457.35 per ounce after U.S. President Donald Trump signed into law support for anti-government protestors in Hong Kong.