Oil rises more than 1% after U.S. stockpile drop; Brent nears $65
Wednesday, 10 July 2019 08:28 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply.

West Texas Intermediate (WTI) WTI futures rose 90 cents, or 1.5%, to $58.73 by 00:27 GMT. Brent was up 69 cents, or 1.1%, at $64.85.

The U.S. and global benchmarks have risen this year as OPEC and big producers like Russia have honored commitments to cut production and support prices.

But investors have been looking for signs that unrelenting production from the United States is being consumed, leading to inventory declines.

U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday.

Crude inventories fell by 8.1 million barrels in the week to July 5 to 461.4 million, compared with analysts' expectations for a decrease of 3.1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 754,000 barrels, API said.

Source : Reuters

RELATED NEWS

Oil drops over $1 on oversupply after OPEC+ delays meeting
Monday, 6 April 2020 09:18 WIB

Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude (LCoc1) slipped close to $30 a barrel in early trade and was ...

U.S. oil prices climb by nearly 32% for the week
Saturday, 4 April 2020 01:58 WIB

Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of almost 32%. Prices extended their Thursday rally on growing expectations that major oil producers will reach an agreement to significantly cut production levels as efforts to slow the spread of COVID-19 continues to hurt energ...

Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal
Friday, 3 April 2020 09:15 WIB

Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. Brent crude futures fell 3%, or 9 cents, to $29.05 as o...

U.S. oil prices settle nearly 25% higher; Trump expects a Saudi Arabia-Russia output cut
Friday, 3 April 2020 01:54 WIB

Oil futures rallied Thursday, finding support after President Donald Trump tweeted that he spoke to Saudi Arabia's Crown Prince Mohammed bin Salman, who held a discussion with Russian President Vladimir Putin, and now expects the two major oil producers to announce a production cut of "approximately...

U.S. crude oil futures up 4.8%, support at $20
Thursday, 2 April 2020 08:36 WIB

U.S. crude oil futures opened 5% higher on Thursday, reversing Wednesday's losses, despite growing concerns about a looming economic depression due to the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude futures rose as much as $1.16 to a high of $21.47, and were up 4.8%, or 97 cents,...

ANOTHER NEWS
Hong Kong stocks enjoy morning gains
Monday, 6 April 2020 11:26 WIB Hong Kong shares ended Monday morning more than one percent higher, with traders cheered by news that fresh coronavirus infection numbers were slipping in some of the world's worst hit countries. The Hang Seng Index added 1.11 percent, or 257.10...

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.