WTI: renewed hopes again for OPEC members driving the price to fresh highs on $46bbl

WTI closed the US session with a fresh high for the week's post November 2nd highs.

WTI is now trading at $45.63 at time of writing after making a high that broke the $46 handle to $46.09 before settling back a touch. The same themes and twist and turns in the OPEC plans of curtailing production continues to drive the price one way or another.

The OPEC meeting is scheduled for Nov. 30, where there are hopes in the markets that they can strike an accord to cut back 32.5 million to 33 million barrels a day. Reports from Bloomberg streamed through that suggested there were several OPEC members who are again engaged in a final effort to overcome divisions between the cartel's biggest producers, which some analysts said contributed to Tuesday's advance. Meanwhile, API Crude Inventory came in at +3.65Mbbls with Cushing +1.1, Distillates +3m and Gasoline -155K, all of which has capped the advance with a bigger than expected build.