Oil Prices Ends Day and Week Higher as EIA Report Shows Bigger-Than-Expected Crude Drop
Saturday, 28 December 2019 03:58 WIB | COMMODITY |BrentWTIMinyak

Crude oil prices edged higher Friday and finished a holiday-shortened week near a three-month peak, after a report showed a bigger-than-expected decline in U.S. stores of crude and its byproducts.

The Energy Information Administration reported that U.S. crude supplies fell by 5.467 million barrels for the week ended Dec. 20. Analysts polled by S&P Global Platts had forecast a decrease of 3 million barrels, although the less closely followed American Petroleum Institute report showed a 7.9 million-barrel tumble late Tuesday, according to sources.

EIA data also showed supply increases of 1.963 million barrels for gasoline stocks and a decline of roughly 152,000 barrels for distillates.

U.S. energy reports were delayed this week due to the Christmas holiday.

West Texas Intermediate crude for February delivery, the U.S. benchmark grade, rose 4 cents, or less than 0.1%, to end at $61.72 a barrel in up-and-down trade on the New York Mercantile Exchange. The slight gains, however, helped the most-active contract hold around its highest price since Sept. 16, according to Dow Jones Market Data, with a weekly gain of about 2.1%.

February Brent crude, meanwhile, added 24 cents, or 0.4%, at $68.16 a barrel on ICE Futures Europe, following a 1.1% gain in the prior session. That contract expires on Dec. 30. The March contract, which is currently the most active, added 11 cents, or 0.2%, at $66.87 a barrel. For the week, Brent™s February contract climbed 3.7%, while March Brent rose 2.6% in the week to date.

Source : Market Watch

RELATED NEWS

U.S. Oil Prices Mark First Loss In 3 Sessions
Tuesday, 7 April 2020 02:10 WIB

Oil futures settled with a loss on Monday, with U.S. prices down for the first time in three sessions. A key meeting of major oil producers that was originally expected Monday was pushed to Thursday, contributing to uncertainty in the market as traders await news potential crude production cuts. M...

Brent Oil Rises Above $32 On Hopes Of Output Deal
Friday, 3 April 2020 18:52 WIB

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply. Brent crude LCOc1 futures were up 9.3%, or $2.79, at $32.73 a barrel by 10:14 GMT. Brent soared as much as 47% on Thursday for its highest intraday percentage...

Oil Rallies 10% After Trump Says He Expects Saudi Arabia-Russia Feud To End Soon
Thursday, 2 April 2020 19:26 WIB

Oil prices rallied on Thursday after President Donald Trump talked up the possibility of Saudi Arabia and Russia ending a squabble that contributed to crude™s massive plunge since last month. West Texas Intermediate futures surged by $2.11, or 10.4%, to $22.42 per barrel. International benchmark ...

Oil Prices Could Soon Turn Negative As The World Runs Out Of Places To Store Crude
Wednesday, 1 April 2020 19:18 WIB

Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the world™s most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effective...

Oil Rises After 18-Year Lows Prompt U.S.- Russia Talks Plan
Tuesday, 31 March 2020 19:17 WIB

Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks aimed at stabilising energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide. Brent crude LCOc1 was up 87 cents, or 3.8%,...

ANOTHER NEWS
Gold slips 1% as small signs of progress against coronavirus boost stocks
Tuesday, 7 April 2020 18:23 WIB Gold prices fell 1% on Tuesday, retreating from a one-month high hit earlier in the session as risk sentiment improved on wider market optimism after there were tentative signs of progress against coronavirus outbreaks in some countries. Spot gold...

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.