Oil Poised for Weekly Gain as OPEC+ Cuts Counter Trade Worries
Friday, 15 February 2019 07:54 WIB | ENERGY |MinyakWTIBrentOil,

Oil headed for its biggest weekly gain in a month as the OPEC+ coalition's supply cuts overshadowed renewed concern over whether the world's two largest economies will be able to reach a trade deal.

Futures in New York rose a fourth day, and are up 4 percent for the week. Russia said Thursday it would accelerate output cuts agreed to in a deal with the Organization of Petroleum Exporting Countries, following Saudi Arabia's pledge to deepen reductions. Asian stocks fell Friday as the U.S. and China were said to have made little progress in trade talks this week in Beijing.

WTI for March delivery trades at 54.84/bbl on Nymex, gained 43 sen, at 8:33am in Singapore. Contract lost 51 cents to $54.41 on Thursday.

April Brent added 96 cents to $64.57/bbl on ICE Futures Europe exchange on Thursday. Brent ended session at $9.78 premium to WTI for the same month.

Source: Bloomberg

RELATED NEWS

Oil futures settle at lowest in over a year
Thursday, 27 February 2020 03:00 WIB

Oil futures declined on Wednesday, with the U.S crude benchmark settling at its lowest in more than a year as global energy demand worries fed by the spread of COVID-19 pulled prices down for a fourth consecutive session. April West Texas Intermediate oil fell $1.17, or 2.3%, to settle at $48.73 ba...

US Crude Drops Below $50 as Washington Warns of a Global Pandemic
Wednesday, 26 February 2020 19:43 WIB

U.S. crude dropped below $50 on Wednesday, the lowest level since January 2019, as Asia, Europe and oil producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic. Brent crude fell 89 cents, or 1.6%, to $54.06 a barrel by...

Oil rises on short-covering despite growing fears over coronavirus
Wednesday, 26 February 2020 10:15 WIB

Crude prices edged up on Wednesday as investors covered short positions after three sessions of losses, even as fears deepened that the rapid spread of the coronavirus will lead to a global pandemic. Brent crude rose 42 cents, or 0.8%, to $55.37 a barrel by 0154 GMT, while U.S. West Texas Intermedi...

Oil falls 3% to settle under $50 for first time in 2 weeks
Wednesday, 26 February 2020 02:53 WIB

Oil fell below $55 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Crude fell almost 4% on Monday, with other commodities also reporting losses while U.S. and European e...

Oil Holds Biggest Loss in Seven Weeks on Worsening Virus Outlook
Tuesday, 25 February 2020 08:43 WIB

Oil held its biggest loss in almost seven weeks as investors attempted to gauge the economic consequences of the fast-spreading coronavirus and whether it would become a global pandemic. Futures in New York edged higher after tumbling 3.7% Monday amid a broad market selloff driven by a sh...

ANOTHER NEWS
Gold Climbs as Trump Comments Fail to Ease Virus Fears
Thursday, 27 February 2020 08:39 WIB Gold rose for the seventh time in eight days as investors continued to weigh the impact of the coronavirus outbreak, with comments by the Trump administration failing to allay concerns about the disease. More cases were reported in...

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.