Oil Retreats as Supply Fears Outweigh U.S. Stimulus Package
Wednesday, 25 March 2020 19:28 WIB | ENERGY |Oil,Minyak MentahBrentWTIMinyak

Oil futures fell Wednesday, with worries about growing supply amid a price war between Saudi Arabia and Russia outweighing support from an agreement on a $2 trillion U.S. economic stimulus program.

West Texas Intermediate crude for May fell 28 cents, or 1.2%, to $23.73 a barrel on the New York Mercantile Exchange. May Brent crude, the global benchmark, was off 96 cents, or 0.9%, at $28.78 a barrel on ICE Europe.

Democratic and Republican lawmakers and the Trump administration reached a deal on a $2 trillion relief package aimed to tide over U.S. citizens and businesses as the economy grinds to a near halt as a result of the global COVID-19 pandemic. Expectations for a deal had helped lift oil futures and sent stocks soaring on Tuesday.

But analysts said the global demand hit from the pandemic coupled with a flood of crude unleashed by a price war between Saudi Arabia and Russia continued to put a cap on oil futures.

Source : Marketwatch

RELATED NEWS

Oil prices rise on optimism OPEC+ meeting will result in supply cut
Thursday, 9 April 2020 13:05 WIB

Oil prices rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. Brent crude (LCOc1) futures rose 1.2%, or 41 cents, to $33.25 a barrel as of 05...

Crude futures climb ahead of OPEC+ meeting
Thursday, 9 April 2020 09:17 WIB

Crude futures rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand. Brent crude (LCOc1) futures rose 2.5%, or 81 cents, to $33.65 as of 00:34 ...

Crude Oil Edges Higher Ahead of Producers Meeting
Wednesday, 8 April 2020 20:49 WIB

Oil markets edged higher Wednesday ahead of the weekly update on U.S. oil inventories, with investors feeling confident that the world's main oil producers will agree to cut output on the back of the dramatic cut in demand and prices following the coronavirus outbreak. AT 9:25 AM ET (1335 GMT), U.S...

Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Wednesday, 8 April 2020 09:04 WIB

Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic. Brent crude (LCOc1) was up by 72 cents, or 2.3...

Oil Rises as Hopes Build For Global Production Cut
Tuesday, 7 April 2020 18:01 WIB

Oil prices clawed their way into positive territory on Tuesday as hopes that the world™s biggest producers will agree to cut output outweighed analyst fears that a global recession in the wake of the coronavirus crisis could be deeper than expected. Brent crude was up 83 cents, or 2.5%, at $33.88...

ANOTHER NEWS
Oil prices rise on optimism OPEC+ meeting will result in supply cut
Thursday, 9 April 2020 13:05 WIB Oil prices rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. Brent crude (LCOc1) futures...

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.