Oil sinks to lowest levels since June as new U.S. tariffs on Chinese goods feed energy demand worries
Friday, 2 August 2019 02:49 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

A stronger U.S. dollar started oil on the wrong foot Thursday, but news of President Donald Trump's plan to implement new tariffs on Chinese goods fueled worries over a slowdown in the global economy and energy demand, pushing prices to their lowest finish since June.

The U.S. dollar had strengthened earlier to a two-year high, after the Federal Reserve on Wednesday signaled that it might not be as aggressive as traders had expected in delivering further interest rates cuts, following its first cut in more than a decade. The stronger dollar pressured commodity prices across the board.

West Texas Intermediate crude for September delivery fell $4.63, or 7.9%, to settle at $53.95 a barrel on the New York Mercantile Exchange. That was the largest front-month contract percentage decline since Feb. 4, 2015 and lowest settlement since June 19 of this year, according to Dow Jones Market Data.

October Brent crude lost $4.55, or 7%, to end at $60.50 a barrel on ICE Futures Europe, the lowest front-month contract finish in roughly seven weeks.

Source : MarketWatch

RELATED NEWS

Oil Market Gripped With Uncertainty Over Lost Saudi Production
Tuesday, 17 September 2019 14:01 WIB

Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply. As state oil producer Saudi Aramco grows less optimistic that there will be a rapid recovery after the strikes that cut the ...

Oil's Dramatic Advance Pauses as Market Awaits Saudi Clarity
Tuesday, 17 September 2019 07:36 WIB

Oil's record-breaking advance paused on Tuesday as the market awaited clarity on how long it'll take Saudi Arabia to restore output that was cut in half by the devastating attacks on its production facilities. It was a subdued start to trading after the fireworks on Monday, when Bren...

Oil Rallies 15%, With U.S. Prices Settling at Their Highest in 4 Months
Tuesday, 17 September 2019 02:01 WIB

Oil futures rallied Monday, as a weekend attack on Saudi oil facilities cut the kingdom's daily crude production down by more than half, sparking concerns of a potentially prolonged supply shortage. The news sparked talk of $100 oil prices, but that scenario "would only occur if there is an all-out...

Oil surges 20% after Saudi attack, softens on stockpile hopes
Monday, 16 September 2019 19:36 WIB

Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom's production. Prices came off their peaks after U.S. President Donald Trump authorize...

Oil soars after attack on Saudi plants shuts in 5% of global supply
Monday, 16 September 2019 13:20 WIB

Oil prices soared on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut about 5% of global supply. Brent crude futures, the international benchmark, rose by as much as 19.5% to $71.95 pe...

POPULAR NEWS
Monday, 16 September 2019 15:22
Hong Kong shares finish sharply lower
Monday, 16 September 2019 09:07
Hong Kong stocks open in negative territory
ANOTHER NEWS
Oil Market Gripped With Uncertainty Over Lost Saudi Production
Tuesday, 17 September 2019 14:01 WIB Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply. As state oil producer Saudi Aramco grows less optimistic that there will...

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.