Oil Near Six-Week Low as Ample Supply Offsets Trade Hopes
Thursday, 16 January 2020 18:29 WIB | COMMODITY |BrentWTIMinyak

Oil traded near its lowest closing level in six weeks as cautious hopes that the U.S.-China trade pact will support demand were offset by signs of ample supply.

Futures held near $58 a barrel on Thursday after settling the previous day at the lowest since Dec. 3. While the deal between Washington and Beijing promises increased Chinese purchases of American energy, and defuses some of the tensions that weighed on global markets last year, U.S. government data showed that combined inventories of crude and refined products rose to their highest since September.

West Texas Intermediate crude for February delivery rose 6 cents, or 0.1%, to $57.87 a barrel on the New York Mercantile Exchange as of 11:04 a.m. in London. The contract fell 0.7% to close at $57.81 on Wednesday.

Brent for March settlement climbed 0.4% to $64.27 a barrel on the ICE Futures Europe exchange after closing down 0.8% on Wednesday. The global benchmark crude traded at a $6.33 premium to WTI for the same month.

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
EUR/JPY snaps two-day losing streak to pierce 120.00 amid risk reset
Wednesday, 26 February 2020 12:37 WIB EUR/JPY rises 0.20% to 120.07 during the pre-European session on Wednesday. In doing so, the pair bucks the previous two days™ declines amid a pullback in trade sentiment. The coronavirus (COVID-19) outbreak in Europe has recently grabbed major...

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.