Oil Set for Worst Week Since July as Saudis Restore Production
Friday, 27 September 2019 13:44 WIB | COMMODITY |MinyakWTIBrent

Oil is heading for the biggest weekly loss since July on indications Saudi Arabia is restoring lost crude production quicker-than-expected after attacks on its key energy infrastructure.

Futures slid as much as 0.6% in New York on Friday. The kingdom is about a week ahead of its repair schedule and is pumping more than 8 million barrels a day, according to people familiar with the matter. Further price losses may be capped by the prospect of escalating tension in the Middle East. The U.S. said it will send an additional Patriot missile battery and 200 more personnel to Saudi Arabia, extending the region™s air defense in the wake of the Sept. 14 assault.

The U.S., Saudi Arabia and major European powers have all blamed Iran for the attacks on the kingdom, which took out 5% of global supply and spurred a record spike in oil. Tehran has denied the allegations. A deepening manufacturing slump in Germany, more signs of economic weakness in China and rising U.S. crude stockpiles have also weighed on prices this week.

West Texas Intermediate for November delivery lost 30 cents to $56.11 a barrel on the New York Mercantile Exchange as of 12:18 p.m. Singapore time. The contract fell 8 cents to $56.41 on Thursday and is down 3.4% this week, the biggest weekly drop since July 19. Prices are up 1.8% this month.

Brent for November settlement dropped 56 cents, or 0.9%, to $62.18 a barrel on the ICE Futures Europe Exchange. The contract is down 3.3% this week. The global benchmark crude traded at a $6.07 premium to WTI.

Source : Bloomberg


Oil Steadies Above $56 As Supply Constraints Counter Virus Fears
Tuesday, 25 February 2020 18:57 WIB

Oil steadied above $56 a barrel on Tuesday after two days of declines as OPEC output cuts and Libyan supply losses balanced concerns about the spread of the coronavirus and its impact on oil demand. Crude fell almost 4% on Monday, with other commodities also posting losses while U.S. and European e...

Oil Recovery Falters in Face of Renewed Concern Over Virus
Friday, 21 February 2020 19:08 WIB

Oil fell, paring this week™s gain, as renewed concern over the impact of the coronavirus overshadowed hopes that China™s stimulus efforts will cushion the blow to demand. Futures in New York fell 1.6%, yet remain about 2% higher this week after China, South Korea and Singapore started rolling o...

Oil Steady After 7-Day Rally on Supply Outlook and Stimulus Hope
Thursday, 20 February 2020 19:40 WIB

Oil steadied in London after the longest rally in a year on signs of tighter global supply, and hopes that Chinese economic stimulus will cushion fuel demand from the impact of the coronavirus. Brent traded near $59 a barrel after gaining 11% during a seven-day advance. The U.S. projected that...

Oil Hits Two-Week High on China Stimulus Hopes, Supply Risks
Wednesday, 19 February 2020 18:49 WIB

Oil rose to a two-week high on hopes that economic stimulus from China can revive demand battered by the coronavirus, and as a number of OPEC nations faced threats to their production. Brent futures increased for a seventh day, the longest run of gains since early 2019, even as Chinese re...

Oil Steady as Asian States Seek to Offset Virus Hit to Economies
Monday, 17 February 2020 19:09 WIB

Oil steadied near $57 a barrel in London as China and other Asian states promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand. Prices recovered more than 5% last week, the biggest gain since September, as some of the fears over how far the inf...

Gold futures give up earlier gains to log a third straight session decline
Friday, 28 February 2020 02:00 WIB Gold futures gave up earlier gains on Thursday to finish lower for a third straight session. "Gold prices are always sensitive to the outlook for interest rates, but it's rarely been more strongly correlated against bond yields than it is right...


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.