Oil Set for Weekly Gain as OPEC+ Gathers Amid Gulf Tensions
Friday, 17 May 2019 18:29 WIB | COMMODITY |MinyakWTIBrent

Brent oil headed for its biggest weekly gain since mid-February as OPEC and its allies gather this weekend to consider output policy and political tensions in the Persian Gulf escalate.

Futures have added 3.5% in London this week. Saudi Arabia, Russia and other major producers in the OPEC+ coalition will assemble in Jeddah over the next few days, while U.S. sanctions squeeze exports from fellow member Iran. Regional friction is growing, as the Saudis said two oil tankers were targeted and accused Iran of ordering a drone attack on their fuel pumping stations, spurring concern of conflict between America and the Islamic Republic.

The recent attacks on oil tankers and pumping stations have highlighted how disruptive a major war in the Middle East would be to crude flows. Supply cuts by the Organization of Petroleum Exporting Countries and its allies -- which had been the big price driver earlier in the year -- have taken a back seat to the crisis, although a meeting of the group this weekend will be closely watched for clues on whether they will be extended. On the demand side, an escalating U.S.-China trade war is jeopardizing global growth prospects.

Brent for July settlement rose 46 cents to $73.08 a barrel on the London-based ICE Futures Europe exchange at 11:17 a.m. after closing 1.2% higher on Thursday. It™s up 3.5% so far this week, the largest gain since Feb. 15. The global crude benchmark traded at a $9.45 premium to West Texas Intermediate for the same month.

WTI crude for June delivery was up 58 cents, or 0.9%, to $63.45 a barrel on the New York Mercantile Exchange. The contract settled 1.4% higher on Thursday and has advanced 2.9% since May 10, on track for the biggest gain since the week ending April 5.

Source : Bloomberg

RELATED NEWS

Oil Prices Slip as Economic Worries Outweigh Tanker Tensions
Monday, 17 June 2019 19:17 WIB

Harga minyak turun pada Senin ini terkait tanda-tanda perlambatan ekonomi di tengah perselisihan perdagangan internasional mulai lebih besar dari kekhawatiran pasokan yang dipicu oleh serangan terhadap kapal tanker minyak di Teluk Oman pada pekan lalu. Minyak Brent berjangka turun 35 sen, atau 0,56...

Oil Prices Rise After Attacks on Two Oil Tanker Ships
Friday, 14 June 2019 13:27 WIB

Harga minyak naik pada hari Jumat di Asia setelah dua kapal tanker minyak di lepas pantai Iran diserang. Tidak jelas siapa yang bertanggung jawab atas serangan terbaru. Sekretaris Negara AS Mike Pompeo menuduh Iran melakukan serangan, menyebut Republik Islam "ancaman bagi perdamaian dan stabilitas ...

Oil Prices Ease, But Middle East Tanker Attacks Support
Friday, 14 June 2019 08:31 WIB

Minyak turun pada hari Jumat setelah mengalami kenaikan tajam di sesi sebelumnya ketika harga didorong setelah serangan terhadap dua kapal tanker minyak di Teluk Oman memicu kekhawatiran berkurangnya aliran minyak mentah melalui salah satu rute pengiriman utama dunia. Serangan di dekat Iran dan Sel...

Oil Prices Recover Slightly After Plunging 4% on Crude Inventories Data
Thursday, 13 June 2019 13:16 WIB

Harga minyak sedikit pulih pada Kamis di Asia setelah penurunan di sesi sebelumnya pada data persediaan minyak mentah. Minyak Mentah AS WTI berjangka naik 0,4% ke level $ 51,34 pada pukul 12:57 ET (04:57 GMT). Minyak International Brent Oil berjangka menguat 0,9% ke level $ 69,49. Administrasi Inf...

Oil Steadies After Big Plunge on High Inventories, Lower Demand Forecasts
Thursday, 13 June 2019 08:29 WIB

Harga minyak stabil pada hari Kamis, setelah merosot sebanyak 4% di sesi sebelumnya ke posisi terendah hampir lima bulan di belakang penumpukan lebih lanjut dalam stok minyak mentah AS dan kekhawatiran tentang pertumbuhan permintaan yang lebih rendah. Minyak mentah berjangka Brent naik 12 sen, atau...

ANOTHER NEWS
Hong Kong stocks surge on trade hopes (Review)
Thursday, 20 June 2019 03:21 WIB Hong Kong stocks rallied more than two percent Wednesday, fuelled by hopes for a trade breakthrough after Donald Trump said he would meet Xi Jinping at the G20 next week. The Hang Seng Index jumped 2.56 percent, or 703.37 points, to...

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.