Oil Steady Near 12-Week High Amid Stockpile Drop, Trade Anxiety
Tuesday, 10 December 2019 19:34 WIB | COMMODITY |BrentWTIMinyak

Oil was steady near a 12-week high in New York, supported by signs of falling American crude inventories yet capped by continuing salvos in the U.S.-China trade dispute.

West Texas Intermediate futures were little changed, after briefly surging on signs of economic confidence in Germany. U.S. crude stockpiles fell by 2.5 million barrels last week, a Bloomberg survey showed before government data due Wednesday. The White House is scheduled to put tariffs on a further $160 billion of Chinese goods Sunday, although Agriculture Secretary Sonny Perdue said they™re unlikely to be implemented.

Oil closed at the highest level since mid-September on Friday after the Organization of Petroleum Exporting Countries and its allies surprised the market with deeper-than-expected output cuts. Attention has now turned back to the prolonged U.S.-China trade war and whether the two sides can nail down a much-hyped phase-one agreement.

WTI for January delivery gained 2 cents to $59.04 a barrel on the New York Mercantile Exchange as of 10:56 a.m. in London. The contract closed 18 cents lower on Monday after jumping 7.3% last week.

Brent for February settlement increased 1 cent to $64.26 a barrel on the London-based ICE Futures Europe Exchange after slipping 0.2% on Monday. The global benchmark crude traded at a $5.32 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS

Oil Falls From $40 On Doubts Over Early OPEC Meeting
Wednesday, 3 June 2020 18:38 WIB

Oil fell after touching its highest since March at more than $40 a barrel on Wednesday, pressured by doubts that an early meeting of OPEC and its allies to extend existing output cuts will take place. Brent crude dropped after Bloomberg reported that the meeting suggested for Thursday was unlikely ...

Oil Prices Edge Down As Wary Traders Eye Upcoming OPEC+ Meeting
Monday, 1 June 2020 13:44 WIB

Oil prices edged down on Monday as traders took profits, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude LCOc1 fell 15 cents, or 0.4%, to $37.69 a barrel, in t...

Oil Falls But Set To Post Biggest Monthly Rise In Years On Output Cuts
Friday, 29 May 2020 14:19 WIB

Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world™s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2%, to $34.8...

Oil Prices Fall As U.S. Fuel Demand Remains Weak
Friday, 29 May 2020 08:38 WIB

Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the world™s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude LCOc1 slipped 36 cents, or 1%, to $34.93 a barrel by 0106 GMT and U.S. West Texas Inter...

Oil Drops On Worse Than Feared Rise In U.S. Fuel Stocks
Thursday, 28 May 2020 08:33 WIB

Oil prices fell in early trade on Thursday after U.S. crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns. The decline extended losses from Wednesday on uncertainty about Russia™s commitment to deep oil p...

ANOTHER NEWS
Hong Kong Stocks Rise For Third Day (Review)
Thursday, 4 June 2020 03:20 WIB Hong Kong shares rallied for a third straight day Wednesday as the easing of lockdowns around the world overshadowed worries about China-US tensions. The Hang Seng Index climbed 1.37 percent, or 329.68 points, to 24,325.62. The benchmark Shanghai...

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.