Oil Advances as Shrinking U.S. Stockpiles Add to OPEC Optimism
Thursday, 20 June 2019 10:58 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil rose as U.S. crude stockpiles fell more than forecast and as OPEC™s top producers progressed toward extending output cuts for the rest of the year after ending a monthlong stalemate on a meeting date.

Futures climbed as much as 1.7% in New York, rebounding from a 0.3% drop on Wednesday. American crude inventories fell by 3.1 million barrels last week, according to government data, more than any of the 12 analysts forecast in a Bloomberg survey. Saudi Arabia, Iraq and the United Arab Emirates are all in favor of restraining supply to boost prices amid signs of slowing demand.

West Texas Intermediate for July delivery, which expires Thursday, added 65 cents to $54.41 a barrel on the New York Mercantile Exchange as of 10:29 a.m. Singapore time. Futures dropped 14 cents to $53.76 on Tuesday. The more-active August contract traded 1.3% higher to $54.66.

Brent for August settlement rose 72 cents, or 1.2%, to $62.54 a barrel on London™s ICE Futures Europe Exchange. Prices closed 0.5% lower at $61.82 on Tuesday. The global benchmark crude traded at a $7.88 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil Prices Rise Amid Brexit Hope, But Worries Over China Limit Gain
Wednesday, 16 October 2019 13:36 WIB

Oil prices recovered on Wednesday in Asia amid renewed hopes of a potential Brexit deal between the U.K. and the European Union. U.S. Crude Oil WTI Futures gained 0.3% to $52.97 by 1:13 AM ET (05:13 GMT). International Brent Oil Futures also rose 0.3% to $58.91. Also supporting oil prices today we...

Oil Holds Two Days of Losses as Demand Outlook Deteriorates
Wednesday, 16 October 2019 09:17 WIB

Oil held two days of losses as a worsening demand outlook was compounded by signs it will be difficult for the U.S. and China to reach even a limited trade deal. Futures in New York edged higher after dropping 3.5% over the previous two sessions. Beijing wants a rollback in tariffs before...

Oil Prices Fall on China Data, Trade War Jitters
Tuesday, 15 October 2019 18:52 WIB

Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal despite signs of a truce last week. Brent crude fell $0.44, or nearly 1%, to $58.94 a barrel, while U....

Oil prices extend losses into second session on weak China data
Tuesday, 15 October 2019 13:46 WIB

Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer's energy demand growth. Brent crude (LCOc1) fell 47 cents, or 0.79%, to $58.88 a barrel by 05:27 GMT, while U.S. West Texas Intermediate (WTI) c...

Oil Extends Drop on Signs Limited Trade Deal Still Not Sealed
Tuesday, 15 October 2019 09:15 WIB

Oil extended declines on signs the U.S. and China still have some work to do to finalize a limited trade deal and as analysts forecast a fifth weekly increase in American crude stockpiles. Futures in New York fell as much as 0.6% after dropping 2% on Monday. Beijing said it wants to hold more talks...

ANOTHER NEWS
European stocks open mostly lower as Brexit takes center stage
Wednesday, 16 October 2019 14:20 WIB European stocks opened mostly lower Wednesday as investors pause for guidance on the likelihood of an imminent Brexit deal between the U.K. and the EU. The pan-European Stoxx 600 hovered just below the flatline in the opening minutes of trading,...

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.