Oil Prices Press Lower, Paring a Fifth Straight Week of Gains
Friday, 5 April 2019 19:29 WIB | ENERGY |MinyakMinyak WTIMinyak jenis BrentMinyak Mentah

Oil prices pressed lower on Friday as a surprise surge in U.S. crude inventories forced a change of direction now lasting three days.

New York-traded West Texas Intermediate crude futures fell 12 cents, or 0.2%, at $61.98 a barrel by 8:03 AM ET (12:03 GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded down 22 cents, or 0.3%, to $69.18.

Despite recent profit-taking, oil was still on track to register its fifth straight week of gains, its best stretch since November 2017, in a continuation of the first-quarter rally that saw 2019 rally that saw WTI oil soar more than 30%.

Aggressive production cuts from OPEC and Russian-led allies have convinced traders that the global supply glut was on track to rebalance this year, while U.S. sanctions against Iran and Venezuela, along with power outages, contributed to the reduction in supply.

Source : Investing.com

RELATED NEWS

Oil prices soar 10% after attack on Saudi facilities hits global supply
Monday, 16 September 2019 08:38 WIB

Oil prices retreated on Monday after hitting their highest since May at the open, on fears over supply disruptions following an attack on Saudi Arabia's oil facilities on Saturday that cut more than 5% of global oil supply. International benchmark Brent crude futures rose $7.06 a barrel or 11.7% fr...

Oil logs a weekly loss amid worries about rise in supplies
Saturday, 14 September 2019 02:24 WIB

Oil futures finished lower on Friday, with both U.S. and international benchmark crude posting sizable weekly falls as worries about the prospect of rising inventories appeared to overshadow a U.S.-China tariff detente. West Texas Intermediate crude for October delivery fell 24 cents, or 0.4%, to s...

Oil drifts higher, but crude set for weekly stumble amid worries about rise in supplies
Friday, 13 September 2019 20:11 WIB

Oil futures inched higher Friday, but both U.S. and international benchmark crude were headed for sharp weekly falls as worries about the prospect of rising inventories appeared to overshadow a momentary U.S.-China tariff detente. West Texas Intermediate crude for October delivery picked up 32 cent...

Oil declines on global demand worries despite hopes on trade talks
Friday, 13 September 2019 13:10 WIB

Oil futures fell on Friday as concerns about global growth and slowing demand lingered despite hints of progress on U.S.-China trade talks, setting up prices for weekly losses after days of swinging back and forth. Brent crude (LCOc1) was down 18 cents, or 0.3%, at $60.20 a barrel by 04:42 GMT, whi...

Oil set for weekly drop as IEA warns OPEC faces looming surplus
Friday, 13 September 2019 08:24 WIB

Oil is set for its biggest weekly loss in nearly two months as the International Energy Agency warned of a looming supply glut, while OPEC and its allies urged members to maintain, rather than deepen, output cuts. Futures edged lower in New York and were down 2.8% for the week. OPEC+ faces a s...

ANOTHER NEWS
Hong Kong Demonstrators Clash with Police on 99th Day of Protests
Monday, 16 September 2019 10:47 WIB Anti-government protesters clashed with police in Hong Kong again on Sunday, with demonstrators hurling rocks and Molotov cocktails at authorities who responded with volleys of tear gas and blasts of blue-dyed water fired from water cannons. Some...

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.