Oil Rebounds From Seven-Month Low as Saudis Seek to Stem Slide
Thursday, 8 August 2019 08:24 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

Oil rebounded from the lowest in almost seven months as Saudi Arabia contacted other producers to discuss options to stem the price rout.

Futures rose as much as 2.9% in New York, clawing back some of Wednesday's 4.7% decline. Saudi Arabia won™t tolerate continued price weakness and is considering all options, according to an official from the kingdom who asked not to be identified. That came after a surprise increase in U.S. stockpiles, the first gain in eight weeks, helped push down prices on Wednesday.

West Texas Intermediate oil for September delivery added $1.19, or 2.3%, to $52.28 a barrel on the New York Mercantile Exchange as of 9:02 a.m. in Singapore after advancing as much as $1.46 earlier. The contract slumped $2.54 on Wednesday to the lowest close since Jan. 14, capping an 8.2% slide over three days.

Brent for October settlement climbed $1.16 or 2.1%, to $57.39 a barrel on the ICE Futures Europe Exchange. It plunged 4.6% on Wednesday. The benchmark global crude traded at a premium of $5.13 to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil Prices Inch Higher on Output Cut Support, But U.S. Coronavirus Spike Caps Gains
Tuesday, 7 July 2020 10:29 WIB

Oil prices cautiously rose in early trade on Tuesday with major producers sticking to supply cuts, but gains were capped as U.S. coronavirus cases surged, potentially hampering a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude futures climbed 13 cents, or 0.3%, to $40.76 a barrel ...

Oil steady as hopeful economic data face spike in virus cases
Tuesday, 7 July 2020 02:53 WIB

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. Brent crude settled at $43.10 a barrel, up 30 cents. U.S. West Texas Intermediate (WTI) crude settled at $40.6...

Oil Mixed on Tighter Supply, Surge in U.S. Virus Cases
Monday, 6 July 2020 19:04 WIB

Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb demand in the United States. Brent crude LCOc1 was up 40 cents, or 1%, to $43.2...

Oil Prices Mixed as Coronavirus Spike Casts Shadow Over U.S. Demand
Monday, 6 July 2020 13:12 WIB

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude rose 18 cents, or 0.4%, to $42.98 a b...

Oil Stuck Near $43 With Market Weighing Supply Against Virus
Monday, 6 July 2020 08:34 WIB

Oil in London was anchored near $43 a barrel as investors weighed tightening crude supplies and robust U.S. economic data against surging coronavirus infections. Libya™s oil exports are expected to slide this month as forces opposed to the government continue to block shipments, ad...

ANOTHER NEWS
Oil Prices Inch Higher on Output Cut Support, But U.S. Coronavirus Spike Caps Gains
Tuesday, 7 July 2020 10:29 WIB Oil prices cautiously rose in early trade on Tuesday with major producers sticking to supply cuts, but gains were capped as U.S. coronavirus cases surged, potentially hampering a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude...

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.