OPEC Cuts...

OPEC surprised the market by announcing to cut production from November. This sent energy prices much high. The front-month WTI crude oil price initially rose to a 3-week high of 47.45 before ending the day at 47.05, up +5.33%. Similarly, the Brent contract soared +5.92% to 48.69 at close. Refined products also soared with the RBOB gasoline contract jumped +6.03% while the heating oil contract gained +5.75%.