Oil Extends Gain After Rising Most in a Week on Venezuela Crisis
Wednesday, 30 January 2019 18:51 WIB | COMMODITY |MinyakWTIBrent

Oil rises in New York after jumping the most in more than a week on concerns that U.S. sanctions on Venezuela will pose significant market disruption.

West Texas Intermediate futures rose 0.8 percent after climbing 2.5 percent on Tuesday. Venezuela is considering declaring force majeure with the U.S., a signal it may halt shipments, after the White House effectively banned American companies from purchasing its crude. A ban would mean that the 500,000 barrels shipped to the U.S. every day by the OPEC member would need to be re-directed elsewhere, Societe Generale SA said.

Oil is trading in its tightest range in four months as the Organization of Petroleum Exporting Countries and its allies trim output to fight a global glut driven by record U.S. production. The crisis in Venezuela has so far had only a limited impact on prices as it doesn™t change the overall supply and demand picture. Restoring the country™s output could take years, according to Jeff Currie, head of commodities research at Goldman Sachs Group Inc.

West Texas Intermediate crude for March delivery rose 40 cents to $53.71 a barrel on the New York Mercantile Exchange at 11:02 a.m. in London. The contract climbed $1.32, or 2.5 percent, to close at $53.31 a barrel on Tuesday, the biggest advance since Jan. 18.

Brent for March settlement was 51 cents higher at $61.84 a barrel on the London-based ICE Futures Europe exchange. The contract increased $1.39 to $61.32 in the previous session. The global benchmark crude was at a $8.8 premium to WTI.

Source : Bloomberg

RELATED NEWS

Oil Steady as Asian States Seek to Offset Virus Hit to Economies
Monday, 17 February 2020 19:09 WIB

Oil steadied near $57 a barrel in London as China and other Asian states promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand. Prices recovered more than 5% last week, the biggest gain since September, as some of the fears over how far the inf...

Oil Prices Steady Amid Possibility of Deeper Supply Cuts
Friday, 14 February 2020 12:59 WIB

Oil prices steadied on Friday in Asia amid possibility of deeper supply cuts from major producers. U.S. Crude Oil WTI Futures inched up 0.1% to $51.48 by 12:30 AM ET (04:30 GMT). International Brent Oil Futures was little changed at $56.35. The Organization of the Petroleum Exporting Countries (OP...

Crude Heads for Weekly Advance as Corona Virus Worries Recede
Friday, 14 February 2020 07:28 WIB

Oil is on track to post its first weekly gain since the start of January on optimism that the coronavirus outbreak could be abating. Futures in New York were little changed, after rising 0.5% on Thursday. They are up more than 2% over the week, on course to break a run of five straight weekly decli...

Oil Rally Runs Into Turbulence After Jump in Chinese Virus Cases
Thursday, 13 February 2020 13:17 WIB

A nascent rebound in oil prices ran into turbulence after China™s Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections. The government of the province at the heart of the outbreak said it had carried out a review of past suspected cases...

Oil Extends Rally Above $50 on Optimism Virus Stabilizing
Thursday, 13 February 2020 07:34 WIB

Oil extended a rebound into a third day as optimism the global economy can recover from the impact of the coronavirus boosted investor confidence. Futures in New York were up 0.6%, after jumping 2.5% Wednesday. New cases of the virus reported in China may be easing and President Xi Jinping&nbs...

POPULAR NEWS
Monday, 17 February 2020 08:36
Gold Steadies as Countries Plan Stimulus Measures
Monday, 17 February 2020 12:48
Gold Steadies as Countries Plan Stimulus Measures
Monday, 17 February 2020 09:09
Hong Kong Stocks Fall at Open
ANOTHER NEWS
Tokyo's Nikkei Down For Fourth Straight Session on Virus Fears
Tuesday, 18 February 2020 13:24 WIB Tokyo's benchmark Nikkei index closed down for a fourth consecutive session on Tuesday with investors eyeing the impact of the new virus outbreak on major global companies. The Nikkei 225 index dropped 1.40 percent, or 329.44 points, to 23,193.80...

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.