Oil Extends Gains as Fed Signals Flexibility, U.S. Rigs Decline
Monday, 7 January 2019 08:14 WIB | ENERGY |MinyakWTIBrentOil,

Oil extended gains above $48 a barrel as the Federal Reserve suggested the central bank is flexible on interest rates and industry data signaled slowing growth in U.S. crude production.

Futures in New York rose as much as 1.5 percent after a 1.9 percent gain on Friday. Working oil rigs in the U.S. fell for the first time in three weeks, according to data released Friday by Baker Hughes. Federal Reserve Chairman Jerome Powell signaled the central bank could pause interest-rate increases if the U.S. economy weakens.

The U.S. and China are set to hold trade talks this week, the first formal meeting since presidents Donald Trump and Xi Jinping agreed a 90-day truce last month.

WTI for Feb. delivery climbed as much as 70c to $48.66/bbl on Nymex, trades at $48.58 at 8:38am in Tokyo. Contract rose 87c to $47.96 on Friday. Total WTI volume traded 44% below 100-day average.

March Brent added 66c to $57.72/bbl on ICE Futures Europe exchange. Contract gained $1.11 to $57.06 on Friday. Brent trades at $8.84 premium to WTI for the same month.

Source: Bloomberg

RELATED NEWS

Oil prices turn lower despite hints Russia and Saudi Arabia are 'very close' to a deal
Monday, 6 April 2020 19:46 WIB

Oil prices dipped during afternoon deals on Monday, reversing earlier gains after the CEO of Russian sovereign wealth fund RDIF told CNBC that Moscow and Riyadh were œvery close to an oil deal. International benchmark Brent crude futures traded at $33.21 a barrel Monday afternoon, down more th...

Oil drops on oversupply worries as Saudi Arabia, Russia delay meeting
Monday, 6 April 2020 13:48 WIB

Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude (LCoc1) slipped close to $30 a barrel in early trade and was at $33.45 by 05:32 GMT, ...

Oil drops over $1 on oversupply after OPEC+ delays meeting
Monday, 6 April 2020 09:18 WIB

Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude (LCoc1) slipped close to $30 a barrel in early trade and was ...

U.S. oil prices climb by nearly 32% for the week
Saturday, 4 April 2020 01:58 WIB

Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of almost 32%. Prices extended their Thursday rally on growing expectations that major oil producers will reach an agreement to significantly cut production levels as efforts to slow the spread of COVID-19 continues to hurt energ...

Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal
Friday, 3 April 2020 09:15 WIB

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. Brent crude futures fell 3%, or 9 cents, to $29.05 as o...

ANOTHER NEWS
Pound stays on back foot as Johnson enters intensive care
Tuesday, 7 April 2020 08:10 WIB The pound edged lower against the dollar and the euro on Tuesday after British Prime Minister Boris Johnson was moved to intensive care after his coronavirus symptoms worsened. The dollar held onto gains against the euro, the yen, and the Swiss...

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.