Oil Holds Below $54 as China Factory Data Reignites Growth Worry
Friday, 1 February 2019 19:09 WIB | COMMODITY |MinyakWTIBrent

Oil held below $54 a barrel in New York as weak Chinese manufacturing data and persistent uncertainty over U.S.-China trade talks stoked concerns that slowing growth could hurt demand.

West Texas Intermediate futures were steady after rising 18 percent last month. A Chinese factory purchasing managers index for January fell to the lowest level in almost three years, showing the damage the trade war is doing to Asia™s largest economy. The White House said progress had been made in talks, though didn™t detail any new commitments from either side.

Oil is stuck below $55 a barrel even as the Organization of Petroleum Exporting Countries and its allies cut production in an effort to bolster prices that sank almost 40 percent last quarter. Gains over the past month have been capped by continued uncertainty over whether the U.S. and China can tamp down their trade conflict.

WTI crude for March delivery slipped 3 cents to $53.76 a barrel on the New York Mercantile Exchange at 11:33 a.m. London time. It dropped 44 cents to $53.79 on Thursday.

Brent for April settlement rose 1 cent to $60.85 a barrel on the London-based ICE Futures Europe exchange, and traded at a $6.85 premium to WTI for the same month. The March contract expired Thursday after climbing 24 cents to $61.89.

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...

ANOTHER NEWS
Australia Prepares To Rescue Citizens From Virus-Hit Cruise Ship
Wednesday, 19 February 2020 10:21 WIB Australia is preparing to evacuate more than 200 of its citizens from the coronavirus-hit cruise ship, the Diamond Princess, in Yokohama, Japan. The Diamond Princess has been in quarantine since February 3. Onboard the cruise liner have been about...

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.