Oil prices edge down as traders weigh slowing demand against supply curbs
Tuesday, 13 August 2019 19:25 WIB | ENERGY |Minyak WTI

Oil prices dropped on Tuesday after see-sawing throughout the session as lingering concerns over global demand and rising U.S. output offset expectations for major producers to further curtail supply.

Brent crude futures were down 45 cents, or 0.7%, from the previous settlement at $58.12 a barrel at 1150 GMT. The international benchmark has lost more than 20% since hitting its 2019 high in April.

U.S. West Texas Intermedia tefutures were at $54.34 per barrel, down 59 cents, or about 1%.

A deepening trade war between the United States and China, the world's two largest economies and energy consumers, has weighed heavily on oil prices in recent months.

U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September to a record 8.77 million bpd, the Energy Information Administration forecast in a report.

Source: Reuters

RELATED NEWS

Oil Prices Slip as Wary Traders Eye Upcoming OPEC+ Meeting
Monday, 1 June 2020 10:25 WIB

Oil prices fell nearly 1% on Monday as traders hedged bets with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude fell 34 cents to $37.50 a barrel, in the first day o...

U.S. oil futures reverse course to finish higher, climb 88% for the month
Saturday, 30 May 2020 02:12 WIB

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, b...

Oil Sinks on Demand Jitters, U.S.-China Tensions, but on Track for Biggest Monthly Rise in 11 years
Friday, 29 May 2020 19:24 WIB

Oil futures fell Friday, with traders citing uncertainty about demand for fuel and rising U.S.-China tensions over Hong Kong, but the U.S. crude benchmark remained on track for its biggest monthly rise in more than a decade. West Texas Intermediate crude for July delivery was down 88 cents, or 2.6%...

Oil jumps more than 2% to reverse early losses on higher U.S. gasoline demand, refinery runs
Friday, 29 May 2020 01:52 WIB

Oil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that China™s new Hong Kong security law could result in trade sanctions. Oil prices have rebounded in recent weeks on anticipation of improve...

Oil Lower as Rising Crude Inventories Stir Doubts Over Recovery in Demand
Thursday, 28 May 2020 19:07 WIB

Oil futures lost ground Thursday after data from a U.S. industry trade group showed a rise in crude inventories, raising questions over whether expectations for a sharp recovery in demand were overdone. West Texas Intermediate crude for July delivery fell 28 cents, or 0.9%, to $32.53 a barrel on th...

ANOTHER NEWS
Tokyo Stocks Close Higher On Virus Hopes
Monday, 1 June 2020 13:28 WIB Tokyo stocks closed higher Monday on expectations for more businesses to reopen as the Japanese capital lifts restrictions on retail stores and other facilities. The benchmark Nikkei 225 index advanced 0.84 percent, or 184.50 points, to end at...

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.