Oil prices slip as demand worries outweigh OPEC supply cuts
Tuesday, 2 July 2019 08:58 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

Oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed OPEC's decision to extend supply cuts until next March.

Brent crude futures (LCoc1) for September delivery had dropped 33 cents, or 0.5%, to $64.73 a barrel by 00:34 GMT. They climbed more than $2 a barrel on Monday before paring gains later in the day.

U.S. crude futures for August (CLc1) had fallen 48 cents, or 0.8%, to $58.61 a barrel, after touching their highest in over five weeks on Monday.

The U.S.-China trade conflict has pressured global markets, stoking worries about demand for commodities such as crude oil.

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend oil supply cuts until March 2020 as the group's members overcame their differences in order to try to prop up the price of crude.

Source : Reuters

RELATED NEWS

Oil ends higher as Middle East tensions outweigh pressure from Saudi output recovery
Tuesday, 24 September 2019 03:05 WIB

Crude-oil futures ended higher on Monday, finding support from growing tensions in the Middle East even as Saudi Arabia has reportedly restored much of the output lost to attacks over a week ago that damaged its oil facilities. Late last week, the U.S. said that it would deploy more troops to Saudi...

Oil Drops Amid Conflicting Reports About Speed of Saudi Recovery
Monday, 23 September 2019 18:08 WIB

Oil fell as traders weighed conflicting reports on whether Saudi Arabia will succeed in restoring its lost production by the end of this month, while concerns over demand returned following gloomy European data. Brent crude fell 0.5%, reversing earlier gains. Saudi Arabia, which has reite...

U.S. Oil Prices Up 6% For The Week, Biggest Weekly Gain in 3 Months
Saturday, 21 September 2019 02:17 WIB

Oil futures ended lower on Friday, but tallied a gain of almost 6% for the week, the largest such rise in three months. As the Saudis reveal the extent of damages from the attacks on oil facilities last weekend, "the market mood has shifted to questioning how quickly production can be restored," Ma...

Oil Set for Biggest Weekly Gain Since January After Saudi Attack
Friday, 20 September 2019 20:23 WIB

Oil in London was on track for its biggest weekly increase since January as traders waited to see whether Saudi Arabia can fulfill promises to swiftly repair critical facilities attacked last weekend. The world's biggest crude exporter has vowed to restore its Abqaiq processing plant and ...

Tensions in Middle East hoist oil prices to largest weekly gain for months
Friday, 20 September 2019 14:19 WIB

Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend. A Saudi-led coalition launched a military operati...

POPULAR NEWS
Monday, 23 September 2019 09:18
Hong Kong Stocks Up At Open
Monday, 23 September 2019 10:02
Pompeo : Trump's Iran Strategy is Working
ANOTHER NEWS
Stock-Market Momentum Fades at The Close as Investors Wrestle With Poor Economic Growth Outside U.S.
Tuesday, 24 September 2019 03:31 WIB U.S. stocks finished virtually unchanged Monday, with even meager gains fading in the final minutes of trade, amid downbeat data out of Europe that underlined worries about global economic growth. Traders also kept an eye on U.S.-China trade talks...

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.