Oil Advances for a Third Day as Crisis in Venezuela Deepens
Friday, 25 January 2019 14:03 WIB | COMMODITY |MinyakWTIBrent

Oil rose for a third day as a deepening crisis in Venezuela that threatens to complicate OPEC™s task of balancing world oil supplies outweighed a surprise jump in U.S. crude inventories.

Futures in New York extended gains on Friday, erasing a weekly loss. U.S. President Donald Trump™s recognition of Venezuela™s opposition as its real government and the threat of sanctions on the Latin American nation™s oil exports have dealt a big blow to President Nicolas Maduro. U.S. crude inventories rose the most since November last week and gasoline stockpiles climbed to a record high, the Energy Information Administration said Thursday.

Venezuelan production will probably drop by 300,000 to 500,000 barrels a day this year, but sanctions could expand the outage by several hundred thousands of barrels, RBC Capital Markets strategists Helima Croft and Michael Tran wrote in a note. œThe road back for Venezuela will be extremely arduous given the depths of the economic and humanitarian crisis.

Crude has rallied 19 percent so far in January, set for its best month since April 2016, as the Organization of Petroleum Exporting Countries and its allies started fresh output cuts. But managing the Venezuela crisis could become difficult for the group if Washington opts to impose wider sanctions, which may tip the market into deficit. Conversely, the possibility of a regime change raises hopes for an eventual production rebound in a country that has lost 50 percent of its output in the past five years.

West Texas Intermediate crude for March delivery rose 67 cents to $53.80 a barrel on the New York Mercantile Exchange as of 1:59 p.m. in Tokyo. It rose as much as 81 cents Friday and is little changed for the week.

Brent for March settlement added 62 cents to $61.71 a barrel on the London-based ICE Futures Europe exchange. The contract dropped 99 cents for the week. The global benchmark crude was at an $7.96 premium to WTI.

Source : Bloomberg


Oil Snaps 2-Day Rally on China; OPEC Optimism Delivers Positive Week
Saturday, 23 November 2019 03:55 WIB

Oil prices snapped their two-day rally on Friday on U.S.-China angst, but still managed to finish the week higher on suggestions that OPEC+ production cuts will continue until June. U.S. West Texas Intermediate and U.K. Brent crude settled down about 1% on the day and steady on the week. The dispa...

Oil Settles at 2-Month High, Buoyed by Talk of Potential Extension of OPEC Output Cuts
Friday, 22 November 2019 03:54 WIB

Oil prices registered their highest settlement in about two months on Thursday, finding support from a report that the Organization of the Petroleum Exporting Countries and its allies are likely to extend production cuts as well as renewed optimism around U.S.-China trade talks. OPEC and its allies...

Oil Prices Settle About 3% Higher as U.S. Crude Supplies Rise Less Than Expected
Thursday, 21 November 2019 03:42 WIB

Oil futures finished higher on Wednesday, following a U.S. government report that showed domestic crude supplies up a fourth straight week, but by less than the six million-barrel jump reported by a trade group the day before. The Energy Information Administration on Wednesday reported that U.S. cr...

Oil Heads for Weekly Loss on Signs of Adequate Global Supplies
Friday, 15 November 2019 19:03 WIB

Oil headed for a weekly decline as rising U.S. crude inventories and new production elsewhere signaled that global markets will remain comfortably supplied. Futures slipped 0.5% in New York, bringing the loss this week to 1.3%. U.S. government data showed stockpiles expanded by 2.22 ...

Oil Rises on Signs of U.S. Supply Drop, OPEC Shale Outlook
Thursday, 14 November 2019 18:49 WIB

Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a œsharp slowdown in American shale output next year. Futures added 1.1% in New York. Expectations that the U.S. government will report that crude inventor...

Hong Kong Shares End Week On Positive Note
Saturday, 23 November 2019 04:24 WIB Hong Kong stocks ended a tough week on a positive note Friday but investors remain nervous about the impact on the local economy and trade talks from a US lawmakers' bill supporting the city's rights. The Hang Seng index climbed 0.48 percent, or...


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.