The oil prices traded this morning with declines of more than 1%, after the release of the data of the American Petroleum Association which pointed to an increase in inventories.

The price of oil rose yesterday after a reported that the US oil inventories fell by 2.4 million barrels last week, compared with an expected decline of 1.4 million barrels.

The Italian Prime Minister Matteo Renzi, squeaked in his Twitter account that he will resign from his position formally this evening, after the budget was approved.

Euro zone economy grew in the third quarter at a rate that matched the expectations.
The GDP of the 19 countries in the Euro zone in the third quarter grew by 0.3%, after growth of 0.3% in the second quarter.

Italy, results of the referendum:
The results rejected the proposal of the Prime Minister on political reforms that will enable promotion of economic reforms.
In response to the referendum results there are price declines in Asia.

Italian Central Bank has informs that the three largest commercial banks in the country will be required to increase their security blanket, and reach a level of minimum capital requirements defined beyond the ordinary.

OPEC countries decided on a cut of 1.2 million oil barrels a day.
This is a decision that complies with the earlier forecasts.