Oil Rises After Drone Attack on Saudi Arabia Disrupts Gulf Calm
Monday, 19 August 2019 13:48 WIB | COMMODITY |MinyakWTIBrent

Oil rose for a second day after a drone attack on a Saudi Arabian oil field brought geopolitical risks back into focus, and as the prospect of more U.S.-China trade meetings spurred some investor optimism.

Futures in New York advanced 1.2% after climbing 0.7% on Friday to cap the first weekly gain in three. Yemeni rebels attacked oil and gas facilities at Shaybah field in the southeast part of the kingdom over the weekend, although there was only a small fire and no disruption to production, Saudi Aramco said in a statement. President Donald Trump said the U.S. is talking with China on trade but suggested he wasn™t ready to sign a deal yet.

Crude has fallen around 17% from a peak in late April as the U.S.-China trade war intensified, casting a pall over the global growth outlook. While a series of attacks on tankers and energy facilities in the Middle East have provided some temporary support to prices, oversupply remains the key concern for the market. Meanwhile, there are signs Saudi Arabia is struggling to muster support for its bid to convince OPEC and its allies to cut production further.

West Texas Intermediate crude for September delivery rose 64 cents, or 1.2%, to $55.51 a barrel on New York Mercantile Exchange as of 7:34 a.m. in London. The contract, which will expire on Tuesday, advanced 0.7% last week.

Brent for October settlement increased 79 cents, or 1.4%, to $59.43 per barrel on the ICE Futures Europe Exchange. The global benchmark is trading at a premium of $3.97 a barrel to WTI, near the smallest gap since March 2018.

Source : Bloomberg

RELATED NEWS

EIA: US crude oil stocks decreased by 6.9 million barrels
Wednesday, 11 September 2019 21:52 WIB

The weekly report published by the US Energy Information Administration (EIA) revealed that commercial crude oil inventories in the US decreased by 6.9 million barrels in the week ending September 6 compared to analysts estimate for a draw of 2.6 million barrels. Key takeaways from the press releas...

Oil prices extend gains as EIA reports a 4.8 million-barrel weekly fall in U.S. crude supplies
Thursday, 5 September 2019 22:20 WIB

The Energy Information Administration on Thursday reported that U.S. crude supplies declined by 4.8 million barrels for the week ended Aug. 30. On average, analysts polled by S&P Global Platts forecast a fall of 3 million barrels, while the American Petroleum Institute on Wednesday reported an ...

Oil Heads for Biggest Weekly Gain in Seven on Trade War Optimism
Friday, 30 August 2019 18:53 WIB

Oil headed for its biggest weekly increase since mid-July after a sizable drop in American crude inventories and an apparent pause in U.S.-China trade hostilities eased demand fears. Futures in New York fell 0.9% on Friday but are up 3.7% for the week. China said Thursday that it wouldn™t immedia...

EIA Reports a 10 Million-Barrel Weekly Decline in U.S. Crude Supplies
Wednesday, 28 August 2019 21:43 WIB

The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 10 million barrels for the week ended Aug. 23. Analysts polled by S&P Global Platts expected a decline of 4.7 million barrels, on average, while the American Petroleum Institute on Tuesday reported an 1...

Oil Prices Break 3-Day Losing Streak on Trump Trade Remarks
Monday, 26 August 2019 19:23 WIB

U.S. crude prices turned higher overnight on Monday, breaking a three-day losing streak, as U.S. President Donald Trump said that China was willing to restart trade negotiations. New York-traded West Texas Intermediate crude futures gained 57 cents, or 1.1%, to $55.33 a barrel by 7:51 AM ET (11:51 ...

ANOTHER NEWS
Fed Makes Second Straight Rate Cut, Splits on Further Action
Thursday, 19 September 2019 01:20 WIB Federal Reserve policy makers lowered their main interest rate for a second time this year while splitting over the need for further easing, caught between uncertainty over trade and global growth and a domestic economy that's holding up well. œ...

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.