Oil Extends Gains on Optimism Over Trade Deal, U.S. Inventories
Tuesday, 8 January 2019 07:18 WIB | ENERGY |MinyakWTIBrentOil,

Oil extended its longest streak of gains in almost 1 1/2 years on optimism the U.S. and China can reach a trade deal in talks and U.S. crude inventories will fall.

Futures in New York climbed as much as 0.7 percent and are on course for a seventh day of gains, the longest winning streak since July 2017. There's a œvery good chance the U.S. gets a reasonable deal with China, Commerce Secretary Wilbur Ross told CNBC Monday, as trade negotiations began in Beijing. Meanwhile, expectations for declining U.S. crude inventories eased concerns over a supply glut.

U.S. crude inventories probably fell 1.75 million barrels last week, according to a Bloomberg survey. If Energy Information Administration data due Wednesday confirms that, it will be the fifth weekly decline in six weeks.

WTI for Feb. delivery rose as much as 33c to $48.85/bbl on Nymex, trades at $48.78 at 8:53am in Tokyo. Contract added 56c to $48.52 on Monday.

March Brent gained 27c to $57.33/bbl on ICE Futures Europe exchange on Monday. Brent ended session at $8.51 premium to WTI for the same month.

Source: Bloomberg

RELATED NEWS

Oil Prices Slide Over 3% on Demand Concerns as Virus Spreads
Monday, 24 February 2020 18:39 WIB

Oil prices tumbled by more than 3% on Monday, as the rapid spread of a coronavirus in several countries outside China left investors concerned about a hit to demand. Global shares also extended losses as worries about the impact of the new virus grew, with the number of infections jumping in Iran, ...

Oil prices fall 2% on demand concerns as coronavirus spreads outside China
Monday, 24 February 2020 08:10 WIB

Oil prices tumbled more than 2% on Monday as investors worried about a hit to demand from the coronavirus outbreak, which is spreading rapidly outside China. Brent crude fell by $1.50 or 2.5% to $57.00 a barrel by 2332 GMT. U.S. crude futures fell by $1.26 or 2.3% to $52.12. Concerns about the cor...

Oil futures finish lower for the session, but gain for the week
Saturday, 22 February 2020 02:55 WIB

Oil futures fell on Friday, pressured by the possibility of a breakdown in the oil alliance between Saudi Arabia and Russia, as the market continues to worry that the spread of COVID-19 will slow energy demand. Saudi Arabia is weighing a break in its alliance with Russia and holding talks with Kuwa...

Oil Falls as Coronavirus Spread Beyond China Heightens Demand Fears
Friday, 21 February 2020 13:11 WIB

Oil prices fell on Friday amid concerns over fuel demand as the coronavirus epidemic spread further beyond China, while major crude producers stood pat on any early action to cut output to support the market. Brent crude was down 28 cents, or 0.5%, at $59.03 a barrel by 0332 GMT, while U.S. crude w...

Oil Prices Slide as Coronavirus Spread Beyond China Raises Demand Worries
Friday, 21 February 2020 09:23 WIB

Oil prices fell on Friday with fears for fuel demand growing as the coronavirus epidemic that originated in China spread further beyond the country, while major crude producers stood pat on taking early action to cut output to support the market. Brent crude was down 24 cents, or 0.4%, at $59.07 a ...

ANOTHER NEWS
Europe stocks sink on fears coronavirus is spreading in Italy; airlines lead losses
Tuesday, 25 February 2020 00:08 WIB European stocks closed sharply lower Monday as investors monitored the continuing spread of the coronavirus beyond China. The pan-European Stoxx 600 closed down 3.8% to 411.63 , with travel and leisure stocks tumbling over 6% to lead losses as all...

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.