Oil Resumes Rise, Lifted by Supply Cuts and Pickup in Demand
Tuesday, 26 May 2020 18:31 WIB |
Oil futures traded higher Tuesday, with crude up as traders return from a three-day weekend in the U.S. and U.K., encouraged by continued cuts in production and a pickup in demand as lockdowns ease around the world with the coronavirus pandemic receding.
West Texas Intermediate crude for July delivery on the New York Mercantile Exchange rose 75 cents, or 2.3%, to $34 a barrel. August Brent crude the global benchmark, was up 50 cents, or 1.4%, at $36.62 a barrel.
Analysts said optimism over easing lockdowns and news of progress toward a vaccine were lifting overall appetite for risk assets. U.S. stock-index futures pointed to strong opening gains for Wall Street Tuesday.
Source : Marketwatch
Thursday, 2 July 2020 02:15 WIB
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The fall in stockpiles also followed three consecutive weeks of increases. August West Texas Intermediate oil ro...
Wednesday, 1 July 2020 18:47 WIB
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Brent crude rose $1.09, or 2.7%, to trade at $42.38 per barrel, after declining...
Wednesday, 1 July 2020 02:49 WIB
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Tuesday, 30 June 2020 18:32 WIB
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Tuesday, 30 June 2020 03:13 WIB
Oil futures climbed on Friday, with U.S. prices up by more than 3%, finding support from some recovery in energy demand, even as that recovery is threatened by the possibility of another round of shutdowns as cases of COVID-19 surge in parts of the world.
August West Texas Intermediate oil rose $1....