Oil Steady as Industry Data Show Hefty Drop in U.S. Stockpiles
Wednesday, 24 July 2019 19:01 WIB | COMMODITY |MinyakWTIBrent

Oil held near $57 a barrel as a report showed a hefty drop in U.S. crude inventories and as the resumption of face-to-face trade discussions between Washington and Beijing provided a glimmer of hope for demand.

Futures in New York were up 0.5% after rallying 2.7% over the previous three days. The American Petroleum Institute reported a 10.96 million barrel decline in stockpiles last week, according to people familiar with the data. That™s more than twice the drop forecast in a Bloomberg survey before official figures due Wednesday. U.S. Trade Representative Robert Lighthizer will travel to China Monday for the first high-level, face-to-face talks since May.

West Texas Intermediate for September delivery rose 27 cents, or 0.5%, to $57.04 a barrel on the New York Mercantile Exchange as of 7:41 a.m. local time after climbing as much as 50 cents earlier. It closed 1% higher on Tuesday.

Brent for September settlement advanced 17 cents to $64 a barrel on the ICE Futures Europe Exchange after settling 0.9% higher on Tuesday. The global benchmark crude is trading at a $6.97 a barrel premium to WTI. However, September Brent traded at a discount of 9 cents against October, compared with a premium of 66 cents last week, pointing to weakness in physical markets.

Source : Bloomberg

RELATED NEWS

Oil Near $59 as Trade Deal Hopes Jostle With Ample Supply
Friday, 17 January 2020 19:20 WIB

Oil was near $59 a barrel in New York after rising the most in almost two weeks as the U.S. and China signed a trade agreement, though remains capped by signs that supplies remain plentiful. Futures gained 0.5%, having increased 1.2% on Thursday as Washington and Beijing™s phase-one deal commits ...

Oil Near Six-Week Low as Ample Supply Offsets Trade Hopes
Thursday, 16 January 2020 18:29 WIB

Oil traded near its lowest closing level in six weeks as cautious hopes that the U.S.-China trade pact will support demand were offset by signs of ample supply. Futures held near $58 a barrel on Thursday after settling the previous day at the lowest since Dec. 3. While the deal between Washing...

Oil Holds Biggest Weekly Drop Since July on Easing Gulf Tension
Monday, 13 January 2020 19:50 WIB

Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year. The threat of an outright war has receded since Tehran fired missiles at U.S.-Iraqi bases last week in reta...

Oil Prices Continue to Fall as U.S.-Iran Tensions Ease, Set for Weekly Loss
Friday, 10 January 2020 13:54 WIB

Oil prices continued to fall on Friday in Asia and were set to record their first weekly loss since November as U.S.-Iran conflict cooled. U.S. Crude Oil WTI Futures dropped 0.2% to $59.48 by 12:50 AM ET (04:50 GMT), while International Brent Oil Futures slipped 0.1% to $65.32. The U.S. House of R...

Oil Set for First Weekly Loss Since November on Receding Risk
Friday, 10 January 2020 07:29 WIB

Oil headed for its first weekly loss since November as the prospect of an open war in the Persian Gulf receded, easing fears of a supply disruption in the Middle East. Futures in New York were little changed, set to decline more than a 5% this week. The U.S. House of Representatives voted...

ANOTHER NEWS
Tokyo stocks open higher, dragged high by Wall St
Monday, 20 January 2020 07:34 WIB Tokyo stocks opened higher on Monday, with investor sentiment buoyed by fresh record-setting advances on Wall Street. The benchmark Nikkei 225 index gained 0.19 percent or 46.64 points to 24,087.90 in early trade while the broader Topix index was...

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.