Oil Set for First Weekly Loss Since November on Receding Risk
Friday, 10 January 2020 07:29 WIB | COMMODITY |BrentWTIMinyak

Oil headed for its first weekly loss since November as the prospect of an open war in the Persian Gulf receded, easing fears of a supply disruption in the Middle East.

Futures in New York were little changed, set to decline more than a 5% this week. The U.S. House of Representatives voted Thursday to limit President Donald Trump™s authority to strike Iran while America received indications that the Islamic Republic has asked militias in the Middle East not to carry out attacks against U.S. interests, Vice President Mike Pence said in comments to Fox.

The escalation in conflict between the U.S. and Iran after last week™s assassination of top military general Qassem Soleimani sent the oil market into turmoil this week with prices swinging wildly from day to day. While there™s still nervousness that another flare up in tensions could result in oil facilities being targeted, the global market has a comfortable supply cushion with OPEC members sitting on huge amounts of spare capacity and U.S. production increasing.

West Texas Intermediate crude for February delivery slipped 5 cents, or 0.1%, to $59.651 a barrel on the New York Mercantile Exchange as of 7:53 a.m. in Singapore. The contract is poised to lose 5.6%, or $3.55, this week.

Brent futures for March settlement lost 7 cents, or 0.1%, to $65.37 on Thursday, after rising about 1% in earlier trading.

Source : Bloomberg

RELATED NEWS

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...

ANOTHER NEWS
Tokyo shares close down on pandemic fears
Wednesday, 26 February 2020 13:22 WIB Tokyo stocks closed lower on Wednesday extending losses on Wall Street as health officials warned of the increasing likelihood of a coronavirus pandemic. The benchmark Nikkei 225 index lost 0.79 percent, or 179.22 points, to 22,426.19, while the...

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.