Oil Prices Rally as Saudi Official Affirms Commitment to Output Cuts
Wednesday, 27 February 2019 20:24 WIB | ENERGY |MinyakWTIBrentOil,

U.S. oil futures on Wednesday headed sharply higher after Saudi Arabia affirmed its commitment to reducing output, buoying crude prices.

April West Texas Intermediate crude rose $1.07, or 1.9%, to trade at $56.55 a barrel on the New York Mercantile Exchange, while global benchmark April Brent rose 85 cents, or 1.3%, to $66.21 a barrel on ICE Futures Europe.

The gains in crude come as the energy minister of Saudi Arabia, Khalid al-Falih, reiterated his country's commitment to cutting output to rebalance the market. Saudi Arabia is viewed as the de facto leader of the Organization of the Petroleum Exporting Countries because it is the biggest producer of the oil cartel and holds the most political sway in the group.

Source : Marketwatch

RELATED NEWS

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...

U.S. oil prices settle down nearly 4% as coronavirus outbreak spreads
Tuesday, 25 February 2020 02:59 WIB

Oil futures settled lower on Monday, with U.S. prices losing almost 4% as the market continued to fret over the impact of coronavirus on energy demand. "It could be a bloodbath for oil in the short-term as the risks of a global pandemic will cripple travel and trade," said Edward Moya, senior marke...

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, ...

ANOTHER NEWS
HongKong stocks down at break
Wednesday, 26 February 2020 11:34 WIB Hong Kong shares ended Wednesday's morning session with more losses on growing fears about the impact of the coronavirus on the global economy. The Hang Seng Index eased 0.49 percent, or 132,46 points, to 26,760.77 by the break. Sumber : AFP

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.