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

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 authorized the use of his country's emergency stockpile to ensure stable supply.

Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel, the biggest intraday jump since Jan. 14, 1991. By 1100 GMT, the contract was at $65.38, up $5.16, or 8.6%.

U.S. West Texas Intermediate (WTI) futures climbed as much as 15.5% to $63.34, the biggest intraday percentage gain since June 22, 1998. The contract was later at $59.36, up $4.51 or 8.22%.

Saudi Arabia is the world's biggest oil exporter.

The attack on state-owned producer Saudi Aramco's crude-processing facilities at Abqaiq and Khurais cut output by 5.7 million barrels per day. The company has not given a timeline for the resumption of full output.

Source: Reuters

RELATED NEWS

Oil Prices Fall as U.S. Crude Stockpiles Rise Sharply
Thursday, 17 October 2019 13:35 WIB

Oil prices fell on Thursday in Asia after the American Petroleum Institute (API) said crude stockpiles rose sharply last week. U.S. Crude Oil WTI Futures lost 0.8% to $52.92. International Brent Oil Futures were down 0.7% to $59.02. The API said crude inventories rose by 10.5 million barrels to 43...

Oil Drops as Industry Reports Shows Big Jump in U.S. Stockpiles
Thursday, 17 October 2019 09:11 WIB

Oil fell after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing as demand ebbs. Futures in New York dropped as much as 1.1% after closing up 1% on Wednesday. The American Petroleum Institute reported crude inventories rose by 10.5 mil...

Oil mixed as worries over demand prospects persist
Wednesday, 16 October 2019 19:13 WIB

Oil futures were putting in a mixed performance Wednesday, with Brent crude edging lower and West Texas Intermediate in positive territory, as worries over global demand lingered. West Texas Intermediate crude for November delivery rose 25 cents, or 0.5%, to $53.06 a barrel, putting the U.S. benchm...

Oil Prices Rise Amid Brexit Hope, But Worries Over China Limit Gain
Wednesday, 16 October 2019 13:36 WIB

Oil prices recovered on Wednesday in Asia amid renewed hopes of a potential Brexit deal between the U.K. and the European Union. U.S. Crude Oil WTI Futures gained 0.3% to $52.97 by 1:13 AM ET (05:13 GMT). International Brent Oil Futures also rose 0.3% to $58.91. Also supporting oil prices today we...

Oil Holds Two Days of Losses as Demand Outlook Deteriorates
Wednesday, 16 October 2019 09:17 WIB

Oil held two days of losses as a worsening demand outlook was compounded by signs it will be difficult for the U.S. and China to reach even a limited trade deal. Futures in New York edged higher after dropping 3.5% over the previous two sessions. Beijing wants a rollback in tariffs before...

ANOTHER NEWS
Hong Kong stocks finish on the up
Thursday, 17 October 2019 15:31 WIB Hong Kong shares finished on a positive note Thursday as more weak US data raised hopes for another interest rate cut by the Federal Reserve. The Hang Seng Index rose 0.69 percent, or 184.21 points, to 26,848.49. The benchmark Shanghai Composite...

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.