Oil prices extend gains, move further away from five-month lows
Friday, 7 June 2019 08:23 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts.

Brent crude futures were up 50 cents, or 0.8%, at $62.17 a barrel by 00:41 GMT, having risen earlier to $62.41. They gained 1.7% on Thursday.

U.S. West Texas Intermediate crude futures were up 50 cents, or 1%, at $53.09 per barrel, after trading as high as $53.33. They finished the previous session 1.8% higher.

On Wednesday, Brent and WTI sank to their lowest levels since mid-January at $59.45 and $50.60 respectively, after U.S. crude production hit a new record-high and stockpiles climbed to their highest since July 2017.

By then, both contracts were in bear-market territory, having lost more than 20% from peaks reached in late April.

But on Thursday oil prices followed U.S. stocks higher after Bloomberg News reported the United States is considering a delay in the tariffs on Mexico as talks continue.

Source : Reuters

RELATED NEWS

Crude futures climb ahead of OPEC+ meeting
Thursday, 9 April 2020 09:17 WIB

Crude futures rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand. Brent crude (LCOc1) futures rose 2.5%, or 81 cents, to $33.65 as of 00:34 ...

Crude Oil Edges Higher Ahead of Producers Meeting
Wednesday, 8 April 2020 20:49 WIB

Oil markets edged higher Wednesday ahead of the weekly update on U.S. oil inventories, with investors feeling confident that the world's main oil producers will agree to cut output on the back of the dramatic cut in demand and prices following the coronavirus outbreak. AT 9:25 AM ET (1335 GMT), U.S...

Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Wednesday, 8 April 2020 09:04 WIB

Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic. Brent crude (LCOc1) was up by 72 cents, or 2.3...

Oil Rises as Hopes Build For Global Production Cut
Tuesday, 7 April 2020 18:01 WIB

Oil prices clawed their way into positive territory on Tuesday as hopes that the world™s biggest producers will agree to cut output outweighed analyst fears that a global recession in the wake of the coronavirus crisis could be deeper than expected. Brent crude was up 83 cents, or 2.5%, at $33.88...

Oil Prices Rally as Saudi-Russian Deal "Very, Very Close"
Tuesday, 7 April 2020 10:09 WIB

Oil prices rallied in Asia on Tuesday from a dramatic 8%-fall in their last session. International Brent Oil Futures rose 2.43% to $34.11 by 9:52 PM ET (2:52 AM GMT) and U.S. Crude Oil WTI Futures jumped 4.1% to $27.15. Russian Direct Investment Fund's chief executive told CNBC overnight that his ...

ANOTHER NEWS
Hong Kong stocks higher at lunch
Thursday, 9 April 2020 11:18 WIB Hong Kong stocks finished the morning session on a positive note Thursday following a surge on Wall Street fuelled by hopes that the coronavirus crisis could be reaching a peak. The Hang Seng Index rose 0.70 percent, or 167.08 points, to 24,137.45...

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.