Oil Heads for Back-to-Back Weekly Gain on Hints of Trade Thaw
Friday, 23 August 2019 13:59 WIB | COMMODITY |MinyakWTIBrent

Oil headed for its first back-to-back weekly gain since June on signs the U.S. and China could be edging closer to a trade deal and as a growing list of central banks start easing policy to shore up growth.

Futures in New York edged higher on Friday and are up 1.2% this week. Federal Reserve Chair Jerome Powell will speak Friday in Jackson Hole, Wyoming amid expectations for another U.S. rate cut next month. The American economy has been flashing recessionary warning signs, spurring speculation that President Donald Trump will strike a deal with China to bolster his re-election chances.

Oil prices have recovered since a steep drop in early August as the U.S.-China trade conflict threatened to morph into a currency war. The White House has struck a softer tone since then, delaying the imposition of some tariffs and signaling more meetings are planned. Meanwhile, a looming U.S. sanctions deadline is threatening to clobber Venezuela™s dwindling fleet of rigs and hamper energy production further.

West Texas Intermediate crude for October delivery added 19 cents, or 0.3%, to $55.54 a barrel on the New York Mercantile Exchange as of 7:32 a.m. in London. The contract fell 0.6% Thursday.

Brent for October climbed 28 cents, or 0.5%, to $60.20 on the ICE Futures Europe Exchange after closing 0.6% lower on Thursday. The global benchmark crude was trading at a premium of $4.67 a barrel to WTI.

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
Hong Kong Shares Fall For Third Day
Thursday, 19 September 2019 03:32 WIB Hong Kong stocks finished Wednesday with losses, extending a sell-off to a third day as traders fret over the impact of protests on the city, while they are awaiting a key Federal Reserve policy decision later in the day. The Hang Seng Index eased...

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.