Oil Prices Rise on Upbeat U.S. GDP, China Caixin Data
Friday, 1 March 2019 14:21 WIB | COMMODITY |MinyakWTIBrent

Oil prices rose on Friday in Asia amid strong U.S. GDP data and Chinese PMI data.

U.S. Crude Oil WTI Futures was up 0.7% at $57.63 per barrel by 1:34 AM ET (06:34 GMT). International Brent Oil Futures also gained 0.9% to $66.89 per barrel.

The gains came on the back of U.S. gross domestic product data which showed a seasonally-adjusted annual growth of 2.6% in the fourth quarter, as traders hoped faster growth might make for a pickup in oil demand.

On Wednesday, WTI jumped 2.6% after the latest weekly energy data from the U.S. Energy Information Administration showed a slump in domestic crude inventories that validated OPEC's production cuts. The producer group's defiance of U.S. President Donald Trump's bid to make it ease up on production cuts also boosted the market.

Crude prices rose as much as 8% in February, extending their gains from January's rally.

On Friday, prices were also supported by the better-than-expected Chinese Caixin PMI data.

The Caixin/Markit Manufacturing Purchasing Managers' Index came in at 49.9 for February, higher than the expected 48.5 and last month's 48.3.

Source : Investing.com

RELATED NEWS

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...

Oil Falls Amid Uncertainty Over Trade War and OPEC Supply Cuts
Friday, 8 November 2019 19:50 WIB

Oil fell as traders awaited more concrete signs that the U.S. and China are resolving their trade dispute, and amid concerns that OPEC and its partners won™t deepen output curbs to prevent a glut. Futures lost as much as 1.9% in New York. The U.S. and China have agreed to roll...

Oil Resumes Gains as Trade Tariff Rollback Counters OPEC Curbs
Thursday, 7 November 2019 19:27 WIB

Oil jumped as China and the U.S. made progress in resolving the trade dispute that has weighed on global markets this year, offsetting signs that OPEC and its partners won™t make deeper cuts to supply. Brent crude rose as much as 1.5% in London, reversing much of Wednesday™s 1.9% decline. ...

Oil Slips From Six-Week High on Signs U.S. Supplies Rose Again
Wednesday, 6 November 2019 18:18 WIB

Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied. Futures lost as much as 0.8% in New York after rising 5.6% over the past three sessions. The American Petroleum Institute reported&nbs...

ANOTHER NEWS
Oil Holds Near 2-Week Low as Supplies Swell, Trade Talks Stutter
Wednesday, 20 November 2019 09:13 WIB Oil held losses near a two-week low on signs of swelling American crude inventories, while investors monitored developments on the U.S.-China trade war. Futures were steady in New York after slumping 3.2% on Tuesday, the most since the end of...

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.