Oil Drops as U.S. Stockpile Report Counters Supply Risk in Gulf
Wednesday, 15 May 2019 12:45 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil fell as an industry report signaling a jump in U.S. stockpiles eased concerns over a supply crunch, after a drone attack in Saudi Arabia had highlighted the vulnerability of the country™s energy infrastructure.

Futures in New York pared a loss of as much as 1.1% after closing up 1.2% on Tuesday. The American Petroleum Institute was said to report an 8.63 million-barrel increase in crude inventories last week, compared with a forecast of 1.2 million barrel decline in a Bloomberg survey, before government data due Wednesday. The Yemeni rebel attack on two Saudi pumping stations forced the world™s top oil exporter to temporarily shut its main cross-country crude link.

West Texas Intermediate crude for June delivery fell 45 cents, or 0.7%, to $61.33 a barrel on the New York Mercantile Exchange at 12:46 p.m. in Singapore. It dropped as much as 66 cents earlier after closing 74 cents higher on Tuesday.

Brent for July settlement was down 28 cents, or 0.4%, to $70.96 a barrel on the London-based ICE Futures Europe exchange after advancing 1.4% on Tuesday. The global benchmark contract is trading at a $9.44 premium to WTI.

Source : Bloomberg

RELATED NEWS

U.S. Oil Futures Tally Gains For The Session And Week
Saturday, 17 August 2019 02:22 WIB

Oil futures climbed Friday, tallying a gain for the week, their first in three weeks. "Today's rise reflected some reluctance to go home short over the weekend given the uncertainties in the Persian Gulf...," said Marshall Steeves, energy markets analyst at IHS Markit. "Overall, the market is range ...

Oil trims gains as OPEC lowers forecast for 2019 world oil-growth demand
Friday, 16 August 2019 19:05 WIB

Oil futures trimmed gains Friday after the Organization of the Petroleum Exporting Countries, in its monthly report, slightly lowered its outlook for global oil-demand growth this year. OPEC said it now expects oil demand to grow by 1.1 million barrels a day in 2019, down 40,000 barrels a day from i...

Oil Heads for Weekly Gain as Trade War Headlines Whipsaw Market
Friday, 16 August 2019 14:11 WIB

Oil headed for its first weekly gain this month as trade war news continued to whipsaw the market against the backdrop of rising U.S. stockpiles and a weakening global demand outlook. West Texas Intermediate crude for September delivery rose 61 cents, or 1.1%, to $55.08 a barrel on the Ne...

Oil gains after strong U.S. retail sales help ease recession worries
Friday, 16 August 2019 08:28 WIB

Crude oil prices rose on Friday after two days of declines, buoyed following data showing a rise in U.S. retail sales helped ease some concerns about a recession in the world's biggest economy. Brent crude was up 31 cents, or 0.5%, at $58.54 a barrel at 00:47 GMT, after falling 2.1% on Thursday and...

Oil Ends Down a Second Straight Session on Trade Worries, Recession Fears
Friday, 16 August 2019 02:43 WIB

Oil futures ended lower Thursday for a second consecutive session, as U.S.-China trade tensions continue to feed worries about a global economic slowdown that could weigh on demand. Prices for natural gas, meanwhile, settled sharply higher”at their highest month to date”on the back of a smaller...

ANOTHER NEWS
Wall Street Ends Sharply Higher On German Stimulus Optimism
Saturday, 17 August 2019 03:34 WIB U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. While all three major U.S. stock averages ended the session...

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.