U.S. oil prices settle above the key $20 mark, but log lowest finish since 2002
Tuesday, 31 March 2020 02:11 WIB | ENERGY |Minyak MentahMinyak WTI

Oil futures fell on Monday, settling above the key $20 mark, but concerns over a drop in energy demand pushed prices to their lowest finish since 2002.

"Oil likely has little hope of rallying without some major production cut amongst producers, as global oil demand plunges under pressure from billions of people globally staying home to prevent the spread" of COVID-19, said Patrick De Haan, head of petroleum analysis at GasBuddy, in a statement Monday.

May West Texas Intermediate oil fell $1.42, or 6.6%, to settle $20.09 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since February 2002, according to Dow Jones Market Data.

Source : MarketWatch

RELATED NEWS

Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday. U.S. West Tex...

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns
Wednesday, 3 June 2020 01:48 WIB

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. West Texas Intermediate crude climbed $1.37, or ...

Oil Futures Rise on Hope of Extension of Global Production Cuts
Tuesday, 2 June 2020 18:54 WIB

Crude-oil futures on Tuesday headed higher, at least partly supported by reports that major producers may agree to extend output cuts that terminate at the end of June to further steady oil prices. Reuters has reported that the Organization of the Petroleum Exporting Countries and notably major pro...

Oil Edges Higher With OPEC+ Decision on Output Cuts in Focus
Tuesday, 2 June 2020 12:50 WIB

Oil edged higher toward $36 a barrel as the market waited to see if OPEC and its allies will extend record production curbs. Futures in New York rose around 1% after closing little changed Monday. Saudi Arabia favors keeping the curbs -- which are set to start easing from July -- in place for an ex...

Oil Prices Hold Ground Ahead of OPEC+ Meeting on Extended Output Cuts
Tuesday, 2 June 2020 09:01 WIB

Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week. Brent crude futures rose 0.3%, or 12 cents, to $38.44 a barrel as of 0011 GMT. U.S. West Texas Inter...

ANOTHER NEWS
Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since...

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.