Oil edges lower ahead of inventory data
Wednesday, 30 October 2019 19:10 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

Oil futures edged lower Wednesday as traders awaited the government's take on U.S. crude inventories.

West Texas Intermediate crude for December delivery was down 18 cents, or 0.3%, at $55.36 a barrel. January Brent crude the global benchmark, edged 4 cents lower to $61.19 a barrel, off 0.1%.

The American Petroleum Institute, an industry trade group, late Tuesday said U.S. crude inventories fell last week, though news reports disagreed over the size of the decline. Analysts said the focus instead was on a reported rise in API's estimate of crude supplies at Cushing, Oklahoma, the Nymex delivery hub, that were keeping a lid on WTI futures.

The Energy Information Administration's more closely followed round of weekly inventory data is due Wednesday morning. They're expected to show overall U.S. crude inventories up by 2.5 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast supply declines of 2.5 million barrels for gasoline and 2.4 million barrels for distillates.

Source : MarketWatch

RELATED NEWS

Oil prices end lower after unexpected climb in weekly U.S. crude inventory data
Thursday, 12 December 2019 03:31 WIB

Oil futures finished lower on Wednesday after U.S. government data showed an unexpected climb in domestic supplies of crude oil, as well as sizable gains in gasoline and distillate stockpiles. Prices showed little reaction to the Federal Reserve™s decision to hold its benchmark interest rate unch...

Oil Falls From 12-Week High as Report Shows U.S. Stockpile Build
Wednesday, 11 December 2019 08:35 WIB

Oil retreated from its highest close in almost three months after an industry report showed American crude inventories expanded last week, adding to concerns over weakening demand. West Texas Intermediate for January delivery fell 32 cents, or 0.5%, to $58.92 a barrel on the New York Mercantil...

Oil Prices Recoil as Specter of Trade War, Weaker Demand Haunts Market
Tuesday, 10 December 2019 12:47 WIB

Oil prices slipped on Tuesday for a second straight session as the cons of a slowing global demand outlook outweighed the pros of OPEC's agreement with associated producers at the end of last week to deepen crude output cuts in early 2020. Brent futures were down 14 cents, or 0.2%, at $64.11 per ba...

Oil Steady as Stockpile Drop Forecast Weighed Against Trade War
Tuesday, 10 December 2019 07:41 WIB

Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday. West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the New...

Oil Near 12-Week High After Saudis Surprise With Output Curbs
Monday, 9 December 2019 14:48 WIB

Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. Futures in New York edged lower after climbing 1.3% Friday to cap a 7.3% weekly advance, the most since mid-Jun...

ANOTHER NEWS
Tokyo Stocks Open Higher as US Fed Keeps Rates Unchanged
Thursday, 12 December 2019 07:30 WIB Tokyo stocks opened higher on Thursday after the US Federal Reserve kept interest rates unchanged as expected, with expectations that the low rate be maintained for a while. The benchmark Nikkei 225 index was up 0.24 percent or 55.67 points 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.