Oil Declines as OPEC Resumes Talks in Hunt for Production Deal
Friday, 7 December 2018 18:20 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil extended losses near $51 a barrel after OPEC entered a second day of talks in an attempt to draw up a deal to cut output.

New York futures slipped as much as 1.7 percent, falling for a third session. Saudi Energy Minister Khalid Al-Falih said Thursday in Vienna that he isn™t confident of an agreement when the Organization of Petroleum Exporting Countries meets again with its allies on Friday. OPEC is discussing a proposalthat would see the group reduce output by 650,000 barrels a day, with a further 350,000 barrel a day contribution from its allies, including Russia, delegates said.

West Texas Intermediate for January delivery dropped as much as 89 cents to $50.60 a barrel on the New York Mercantile Exchange, and was at $51.30 at 10:37 a.m. in London. Prices fell 2.7 percent to $51.49 on Thursday. Total volume traded was around 60 percent above the 100-day average.

Brent for February settlement lost 80 cents to $58.71 a barrel on London™s ICE Futures Europe exchange after falling 2.4 percent on Thursday. The global benchmark crude traded at an $8.58 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil prices slide 2.1% as US-China trade war escalates
Saturday, 24 August 2019 03:44 WIB

Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking another escalation of a protracted trade dispute between the world™s two largest economies. Brent crude futures fell 50 cents, or 0.8%, to $59.40 a barrel. U.S. West Texas Int...

Oil Prices Dips Ahead of Powell Speech
Friday, 23 August 2019 19:18 WIB

Oil prices traded slightly lower on Friday as markets prepped for a speech from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium. New York-traded West Texas Intermediate crude futures slipped just 2 cents, nearly unchanged on a percentage basis, to $55.33 a barrel by 7:...

Oil Ends Lower as Demand Worries Pressure Prices
Friday, 23 August 2019 02:17 WIB

Oil futures ended lower on Thursday, weighed down by expectations for surplus supplies, with the economy and energy demand moving back into focus on the first day of the Jackson Hole economic policy symposium in Wyoming. West Texas Intermediate crude for October delivery on the New York Mercantile ...

Oil Prices Rise On Brief Respite From Economic Concerns, Hope For Supply Cuts
Thursday, 22 August 2019 19:12 WIB

Oil prices rose on Thursday as an unexpected increase in business activity in the euro zone gave traders some respite from economic worries as they await further stimulus from central banks, while hopes that OPEC has room for further supply cuts supported sentiment. New York-traded West Texas Inter...

U.S. oil prices settle lower as crude supplies log first weekly slump in 3 weeks
Thursday, 22 August 2019 02:51 WIB

U.S. oil futures settled lower Wednesday after the government reported a weekly decrease in domestic crude supplies, the first in three weeks, but smaller than the market expected. Concerns over energy demand also continued to pressure prices. West Texas Intermediate crude for October delivery fel...

POPULAR NEWS
Saturday, 24 August 2019 01:21
Gold Futures Post a Gain For a 4th Week in a Row
Thursday, 22 August 2019 19:49
Gold sinks as bond yields climb
ANOTHER NEWS
Hong Kong stocks finish week on positive note (Review)
Saturday, 24 August 2019 04:05 WIB Hong Kong shares ended the week with a healthy rise on Friday as investors look ahead to a key speech later in the day by Federal Reserve boss Jerome Powell hoping for hints at further interest rate cuts. The Hang Seng Index jumped 0.50 percent,...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.