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

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-June. The kingdom voluntarily pledged to pump 400,000 barrels a day less than mandated by OPEC+, translating to total overall curbs for the group of 2.1 million barrels a day.

West Texas Intermediate for January delivery fell 30 cents, or 0.5%, to $58.90 a barrel on the New York Mercantile Exchange as of 7:26 a.m. in London. The contract closed at $59.20 on Friday, the highest since Sept. 17.

Brent for February settlement dropped 22 cents, or 0.3%, to $64.17 a barrel on the London-based ICE Futures Europe Exchange. The contract rose 1.6% on Friday, ending the week 3.1% higher. The global benchmark crude traded at a $5.36 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil prices skid 2%, extending slide as China virus spreads
Monday, 27 January 2020 13:46 WIB

Oil prices slumped a further 2% to multi-month lows on Monday as the rising number of cases of the new China virus and city lockdowns deepened concerns about demand for crude, even as Saudi Arabia's energy minister sought to calm the market. Brent crude fell by $1.12 a barrel, or 1.9%, to $59.57 by...

Oil Tumbles on Virus Fear While Saudis See 'Very Limited' Impact
Monday, 27 January 2020 08:08 WIB

Oil tumbled as the market opened in Asia on fears China's deadly coronavirus will crimp energy demand, prompting Saudi Arabia to say it was closely monitoring the situation. Futures in London and New York plunged more than 3% in early trading as the death toll from the outbreak in Ch...

Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth
Saturday, 25 January 2020 03:00 WIB

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General...

Oil Set for Weekly Slump as Asia Virus Adds to Demand Concerns
Friday, 24 January 2020 18:37 WIB

Oil headed for a 5% loss this week amid fears that China™scoronavirus will erode fuel demand just as markets struggle with a fragile world economy and adequate supplies. Futures held above $55 a barrel in New York, buoyed by an unexpected drop in U.S. crude inventories and a p...

Oil steadies, but concern over spreading China virus weighs
Friday, 24 January 2020 09:58 WIB

Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so far dents travel and darkens the economic outlook. Brent crude futures (LCOc1) were 4 cents lower ...

ANOTHER NEWS
U.S. stock futures tumble as China coronavirus spreads, worries escalate
Monday, 27 January 2020 15:37 WIB U.S. stock futures indicated sharp losses for major indexes on Monday, continuing a drop seen from late last week, as concern grows over the fallout from China™s coronavirus, with the death toll and number of infected climbing dramatically from...

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.