Oil Retreats After Biggest Jump in Five Weeks as Stockpiles Rise
Wednesday, 14 August 2019 18:50 WIB | ENERGY |Minyak WTIMinyak jenis Brent

Oil declined after its biggest surge in five weeks as an industry report showed American crude stockpiles expanded, paring a rally that was fueled by signs the U.S.-China trade deadlock may be easing.

Futures lost as much as 1.5% in New York after the American Petroleum Institute was said to report that crude inventories rose by 3.7 million barrels last week. If confirmed by government data Wednesday, it will be a second weekly increase, though a Bloomberg survey predicts a draw in stockpiles. Oil surged 4% on Tuesday after the U.S. postponed tariffs on some Chinese goods, offering a glimmer of hope for global demand.

West Texas Intermediate crude for September delivery fell 69 cents, or 1.2%, to $56.41 a barrel on the New York Mercantile Exchange as of 10:20 a.m. London time. The contract surged $2.17 to settle at $57.10 on Tuesday, the biggest advance since July 10.

Brent for October settlement decreased 55 cents, or 0.9%, to $60.75 on the ICE Futures Europe Exchange. The contract closed 4.7% higher Tuesday, the largest gain since Dec. 26. The global benchmark crude traded at a $4.43 premium to WTI for the same month.

Source: Bloomberg

RELATED NEWS

U.S. oil futures post biggest weekly rise since June
Saturday, 7 December 2019 03:13 WIB

Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,00...

Oil on track for weekly gain as OPEC+ set to confirm supply cut
Friday, 6 December 2019 19:31 WIB

Oil prices fell on Friday, but were set for weekly gains ahead of the OPEC+ meeting which kicked off Friday in Vienna. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a grouping known as OPEC+ - agreed on Thursday to more output cuts to avert oversupply as...

Oil futures end mixed as traders await confirmation of deeper production cuts
Friday, 6 December 2019 03:12 WIB

Oil futures ended on a mixed note Thursday, with U.S. prices settling unchanged for the session and global prices higher, as traders awaited a decision on output from major oil producers, following reports that OPEC and its allies have recommended cutting production by another 500,000 barrels a day....

Oil rises as OPEC weighs deeper output cuts
Thursday, 5 December 2019 19:00 WIB

Oil prices rose on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts in an effort to prop up prices and prevent a glut next year. Sources told Reuters that OPEC was seeking to increase production cuts by the group and its allies led by Russia by more than 4...

Oil futures settle sharply higher as U.S. crude supplies drop, traders await OPEC output decision
Thursday, 5 December 2019 03:17 WIB

Oil futures settled sharply higher on Wednesday, with U.S. prices at their highest finish in almost two weeks as U.S. government data showed the first decline in domestic crude supplies in six weeks. Traders also weighed the possibility that the Organization of the Petroleum Exporting Countries and...

ANOTHER NEWS
Hong Kong stocks finish week on positive note (Review)
Saturday, 7 December 2019 04:32 WIB Hong Kong closed more than one percent higher Friday, boosted by renewed hopes that China and the United States will eventually reach a partial trade deal. The Hang Seng index added 1.07 percent, or 281.33 points, to 26,498.37. The benchmark...

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.