Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend.
A Saudi-led coalition launched a military operation north of Yemen's port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack.
Brent crude is on track to rise about 7.7% this week, the biggest weekly gain since January. The front-month November contract was at $64.77 a barrel, up 37 cents, by 06:50 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 55 cents to $58.68 a barrel, set to post a 7.1% gain for the week, the largest weekly rise since June.
Source : Reuters
RELATED NEWS
Oil mixed as worries over demand prospects persist
Wednesday, 16 October 2019 19:13 WIBOil 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 WIBOil 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 WIBOil 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...
Oil Prices Fall on China Data, Trade War Jitters
Tuesday, 15 October 2019 18:52 WIBOil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal despite signs of a truce last week. Brent crude fell $0.44, or nearly 1%, to $58.94 a barrel, while U....
Oil prices extend losses into second session on weak China data
Tuesday, 15 October 2019 13:46 WIBOil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer's energy demand growth. Brent crude (LCOc1) fell 47 cents, or 0.79%, to $58.88 a barrel by 05:27 GMT, while U.S. West Texas Intermediate (WTI) c...
Gold Posts Lowest Close So Far This Month as Investors Weigh Trade Deal, Earnings Season
Gold Flirts With $1,500 Again on New Trade War Worries
Gold edges lower as market participants weigh trade deal, earnings season
Gold prices to return to $1,500 levels soon - analysts
U.S. Stocks Pause On Unsettled Trade Deal; Earnings Eyed
Stocks Turn Mixed Midday Despite Lingering Worries on China Relations, Weak Retail Sales
Wednesday, 16 October 2019 23:52 WIB
Stocks were little changed midsession Wednesday, as tensions between the U.S. and China over Hong Kong protests weighed on efforts to complete a trade deal, and after a weak retail sales report offset better-than-expected corporate earnings...