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

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 producer Russia, part of a group known as OPEC+, are considering extending cuts of some 9.7 million barrels per day to July or August, during a meeting now set to take place June 4 -- bringing forward a meeting that had been scheduled for June 9-10.

There is evidence that those production cuts have been effective, with Russian output falling to 9.39 million barrels a day last month, near the OPEC+ goal, Reuters reported, citing a report from Interfax news agency. Russia's output was down from 11.35 million barrels per day in April, the news organization reported, citing sources familiar with the matter.

West Texas Intermediate crude for July delivery gained 93 cents, or 2.6%, at $36.37 a barrel on the New York Mercantile Exchange, after shedding less than 0.1% on Monday. Global benchmark Brent saw its August contract climb 96 cents, or 2.5%, at $39.27 a barrel on the ICE Futures Europe platform, after the contract rose 1.3% in the previous session.

Source : Marketwatch

RELATED NEWS

Oil moves lower as Covid-19 cases spark demand fears
Wednesday, 8 July 2020 02:09 WIB

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 24 cents, or 0.56%, to $42.86. West Texas Intermediate crude futures fell 1 cent, or 0.02%, to settle at $40.62 p...

Oil Down as U.S. Virus Spike Stokes Demand Worries
Tuesday, 7 July 2020 18:27 WIB

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 44 cents, or 1.02%, to $42.66, after hitting a high of $43.19. West Texas Intermediate crude futures fell 53 cen...

Oil Prices Inch Higher on Output Cut Support, But U.S. Coronavirus Spike Caps Gains
Tuesday, 7 July 2020 10:29 WIB

Oil prices cautiously rose in early trade on Tuesday with major producers sticking to supply cuts, but gains were capped as U.S. coronavirus cases surged, potentially hampering a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude futures climbed 13 cents, or 0.3%, to $40.76 a barrel ...

Oil steady as hopeful economic data face spike in virus cases
Tuesday, 7 July 2020 02:53 WIB

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. Brent crude settled at $43.10 a barrel, up 30 cents. U.S. West Texas Intermediate (WTI) crude settled at $40.6...

Oil Mixed on Tighter Supply, Surge in U.S. Virus Cases
Monday, 6 July 2020 19:04 WIB

Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb demand in the United States. Brent crude LCOc1 was up 40 cents, or 1%, to $43.2...

ANOTHER NEWS
Wall Street ends lower after strong recent rally as COVID cases mount
Wednesday, 8 July 2020 03:19 WIB U.S. stocks eased on Tuesday as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. Large parts of the United States reported tens of thousands of new...

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.