U.S. oil climbs, but ends off the day high as Fed rate cut raises worries about COVID-19 economic fallout
Wednesday, 4 March 2020 03:44 WIB | COMMODITY |BrentWTIMinyak

U.S. benchmark oil futures finished modestly higher on Tuesday and off the day™s best levels, while global benchmark crude prices settled lower as a surprise, inter-meeting interest-rate cut by the Federal Reserve caused traders to worry more about the global economic fallout of the COVID-19 epidemic.

Prices had traded sharply higher earlier in the session, buoyed by expectations for a further cut to oil production by the Organization of the Petroleum Exporting Countries and its allies.

The Fed™s move is œa sign that the economic fall out may be worse than expected, said Phil Flynn, senior market analyst at The Price Futures Group.

April West Texas Intermediate crude rose 43 cents or 0.9%, to settle at $47.18 a barrel on the New York Mercantile Exchange. The global benchmark, May Brent crude, however, moved lower to settle down 4 cents, or 0.08%, at $51.86 a barrel on ICE Futures Europe. It traded as high as $53.90 during the session.

Source : Market Watch

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 Extend Gains To Fourth Day (Review)
Friday, 5 June 2020 03:20 WIB Hong Kong stocks rose for a fourth straight day Thursday as the easing of lockdown measures around the world continued to trump concerns about China-US tensions. The Hang Seng Index climbed 0.17 percent, or 40.68 points, to 24,366.30. 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.