Oil Falls as Smaller U.S. Stockpile Drop Adds to Economic Woes
Thursday, 4 July 2019 13:54 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

Oil declined as a smaller-than-expected draw in U.S. crude and gasoline inventories added bearish sentiment to a market already reeling from a gloomy economic outlook.

Futures fell as much as 1.2% in New York after gaining 1.9% on Wednesday. While American crude and gasoline stockpiles both fell for a third week, they dropped less than forecast in a Bloomberg survey. Anxieties over demand resurfaced earlier this week after a slew of sluggish economic indicators from the U.S., China and Europe, even as the Organization of Petroleum Exporting Countries and its allies agreed to extend output cuts into 2020.

West Texas Intermediate oil for August delivery lost 59 cents, or 1%, to $56.75 a barrel on the New York Mercantile Exchange as of 7:13 a.m. in London. The contract gained $1.09 on Wednesday, recovering some ground after slumping the most since May 31 in the previous session.

Brent for September settlement declined 68, or 1.1%, cents to $63.14 a barrel on the ICE Futures Europe Exchange. Prices increased 2.3% on Wednesday. The benchmark global crude traded at a premium of $6.31 to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil prices edge up after turbulent week as Saudi Arabia reassures on output
Thursday, 19 September 2019 13:25 WIB

Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia's pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend. Brent crude futures rose 8 cents to $63.68 a barrel by 05:07 GM...

Oil Steadies as Saudis Pledge Swift Return of Lost Production
Thursday, 19 September 2019 09:22 WIB

Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks. West Texas Intermediate crude for October delivery rose 8 cents, or 0.1%, to $58.1...

U.S. Oil Futures Extend Losses to a Second Session
Thursday, 19 September 2019 02:14 WIB

Oil futures fell on Wednesday, after suffering a loss of nearly 6% a day earlier, pressured as Saudi Arabia's output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines. Prices ...

EIA: US crude oil stocks increased by 1.1 million barrels
Wednesday, 18 September 2019 21:48 WIB

The weekly report published by the US Energy Information Administration (EIA) revealed that commercial crude oil inventories in the US increased by 1.1 million barrels in the week ending September 13 compared to analysts estimate for a draw of 2.5 million barrels. The market reaction to the EIA rep...

Oil Prices Fall as Saudi Quickly Restore Output; API Reports Rising Stockpiles
Wednesday, 18 September 2019 12:37 WIB

Oil prices fell on Wednesday in Asia after Saudi Arabia's energy minister said the kingdom is recovering faster-than-expected from an attack on the weekend that knocked out 5% of global oil output. U.S. Crude Oil WTI Futures were down 0.4% to $58.87 by 12:30 AM ET (04:30 GMT). International Brent O...

ANOTHER NEWS
2 US Senators Warn Trump Against Nuclear Deal With Saudis
Thursday, 19 September 2019 16:41 WIB Two U.S. senators are warning the Trump administration against a nuclear cooperation deal with Saudi Arabia, fearing it could set off a nuclear arms race in the volatile Middle East. "Sharing nuclear technology with Saudi Arabia, especially...

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.