Oil Drops as Industry Reports Shows Big Jump in U.S. Stockpiles
Thursday, 17 October 2019 09:11 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

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 million barrels last week, according to people familiar with the data. That would be the biggest increase since February 2017 if confirmed by the official Energy Information Administration figures due Thursday.

West Texas Intermediate for November delivery dropped 38 cents, or 0.7%, to $52.98 a barrel on the New York Mercantile Exchange as of 9:51 a.m. Singapore time. The contract added 55 cents on Wednesday, its first gain in three days.

Brent crude for December settlement fell 29 cents, or 0.5%, to $59.13 on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $6.03 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil rises slightly ahead of OPEC+ meeting
Wednesday, 15 July 2020 02:09 WIB

Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States. Brent crude futures gained 18 cents, or 0.42%, to settle at $42.90 per barrel, after moving lower earl...

Oil Prices Drop on Demand Recovery Fears Amid U.S. Virus Surge
Tuesday, 14 July 2020 18:52 WIB

Oil prices fell around 2% in early trade on Tuesday on worries that new clampdowns on businesses to stem surging coronavirus cases in California and other U.S. states could threaten the nascent recovery in fuel demand. West Texas Intermediate crude futures slid 35 cents, or 0.85%, to $39.76 a barre...

Oil Extends Drop on OPEC+ Taper Jitters and U.S.-China Tension
Tuesday, 14 July 2020 07:53 WIB

Oil dropped for a second day on expectations that OPEC+ will start winding down production cuts next month and as escalating tension between Washington and Beijing worsened sentiment across financial markets. Futures in New York fell below $40 a barrel after retreating 1.1% on Monday. OPEC+™s Joi...

Oil Futures Finish Lower as Traders Await This Week's OPEC+ Committee Meeting
Tuesday, 14 July 2020 01:56 WIB

Oil futures fell on Monday, with traders awaiting the outcome of an OPEC+ Joint Ministerial Monitoring Committee meeting later this week. Members of the Organization of the Petroleum Exporting Countries and their allies will decide whether to extend current production cuts by an extra month or "ris...

Oil slips as traders eye supply cut easing at OPEC meeting
Monday, 13 July 2020 09:36 WIB

Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices. Brent crude LCOc1 fell 27 cents to $42.97 a barrel by 0114 GMT while U.S. West Texas Intermediate crude CLc...

ANOTHER NEWS
Oil rises slightly ahead of OPEC+ meeting
Wednesday, 15 July 2020 02:09 WIB Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States. Brent crude futures gained 18 cents, or 0.42%, to...

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.