Core Insights - Oil prices are on track for a fourth consecutive monthly loss due to oversupply concerns and a recent trading halt caused by a data center glitch at CME Group [1][3][4] - WTI Crude futures were trading at $59.08, up by 0.73%, while Brent Crude futures were down by 0.11% at $63.27 before the trading halt [2] - The OPEC+ meeting this weekend is expected to maintain the decision to pause oil production increases in the first quarter of 2026, which may impact future supply dynamics [3][4] Market Dynamics - The trading halt in WTI Crude futures has raised concerns about increased volatility when trading resumes, particularly on the last trading day of November [2] - Analysts from Saxo Bank noted that crude prices are experiencing their steepest monthly losses since 2023, influenced by rising supply from both OPEC+ and non-OPEC+ producers [4] - The sentiment in the market was briefly buoyed by hopes of a Russia-Ukraine peace deal, but this has since diminished, contributing to the current price range for WTI and Brent [4]

Drivers in half of U.S. states are enjoying average gasoline prices below $3 per gallon this Thanksgiving holiday, and prices at the pump are set to further decline going into Christmas. Lower crude oil prices, cheaper winter blends, weaker seasonal demand despite the bump in Thanksgiving travel, and refineries completing autumn maintenance have converged to push the national average down to $3.055 per gallon of regular gasoline on November 25, just as millions of Americans are hitting or preparing to hit ...