Oil Prices Rise Amid Falling Crude Inventories
Wednesday, 18 March 2020 12:42 WIB | COMMODITY |BrentWTIMinyak

Oil prices continued their rise on Wednesday morning in Asia as inventories in the U.S. decreased, but prices still remained below $30.

The American Petroleum Institute (API) reported yesterday a decrease of 421,000 barrels of crude oil in U.S. inventories for the week ending March 13. 

This is a sharp fall from the previous week, when the API reported an increase of 6.407 million barrels and the U.S. Energy Information Administration reported a rise of 7.7 million barrels.

U.S. Crude Oil WTI Futures rose 0.26% to $27.4 by 10:25 PM ET (02:25 AM GMT) on the back of the report. International Brent Oil Futures gained 0.80% to $28.95. 

Gains were limited however as fears of a perfect storm hitting oil prices continued to mount.

The COVID-19 novel coronavirus epidemic spreads and the number of countries imposing quarantines grows. At the same time, both Saudi Arabia and Russia have boosted production as part of an ongoing price war.

Source : Investing.com

RELATED NEWS

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...

Oil Slips On Demand Worries, Hong Kong Tensions
Wednesday, 27 May 2020 11:54 WIB

Oil prices fell on Wednesday on revived concerns over how quickly fuel demand will recover even as coronavirus lockdowns begin to ease in many countries, while U.S.-China tensions added to negative sentiment. Brent crude futures fell 21 cents, or 0.6%, to $35.96 by 0120 GMT. U.S. West Texas Interme...

Oil Falls On Demand Concerns, U.S.-China Tensions
Wednesday, 27 May 2020 08:02 WIB

Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with U.S.-China tensions adding to pressure. Brent crude LCOc1 futures fell 40 cents, or 0.7%, to $35.77 by 0009 GMT, after falling 1.8% on Tue...

ANOTHER NEWS
Hong Kong stocks end week with more losses (Review)
Saturday, 30 May 2020 03:29 WIB Hong Kong stocks finished with more losses Friday as traders nervously await Donald Trump's news conference, in which he will set out the US response to China's plans to impose a security law on the financial hub. The Hang Seng Index fell 0.74...

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.