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

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 Tuesday. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 49 cents, or 1.2%, at $33.95 a barrel, having risen 3.3% the previous session.

The Organization of the Petroleum Exporting Countries and producers including Russia, a grouping referred to as OPEC+, are cutting their output by almost 10 million barrels per day in May-June to buttress prices as the coronavirus pandemic quarantines have slashed fuel demand.

In the United States, where some states are opening up after lockdowns, optimism about demand recovering has supported sentiment, but the recovery is fragile, analysts caution as the Memorial Day holiday just passed in the United States typically heralds the start of the peak demand season.

Source : Reuters

RELATED NEWS

Oil Falls As Virus Resurgence Fears Weigh On Fuel Demand Recovery
Friday, 3 July 2020 11:16 WIB

Oil prices eased on Friday, reversing earlier gains, as the resurgence of the coronavirus globally and in the United States, the world™s largest oil consumer, stoked worries that a fuel demand recovery could stall. Brent crude LCOc1 futures were down 29 cents, or 0.7%, at $42.85 a barrel as of 03...

Oil Set for Weekly Gain With Economic Optimism Outweighing Virus
Friday, 3 July 2020 07:47 WIB

Oil slipped Friday but remained on track for a weekly gain as aggressive supply cuts and better-than-expected U.S. economic data overshadowed a surge in coronavirus cases in the world™s largest economy. Futures in New York fell toward $40 a barrel in Asian trading, but are still up almost 5% for ...

Oil Prices Slip On Demand Fears As U.S. Virus Cases Surge
Thursday, 2 July 2020 14:27 WIB

Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases and California reimposed some lockdown measures, stoking worries a resurgence in COVID-19 cases will stall a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude CLc1 futures f...

Oil Edges Lower With Virus Fear Offset by U.S. Stockpiles Draw
Thursday, 2 July 2020 08:10 WIB

Oil edged lower as the re-imposition of anti-virus measures in parts of the U.S. was partially offset by a bigger-than-expected draw in American crude stockpiles and plunging output from OPEC producers. Futures in New York traded near $40 a barrel dipped after rising 1.4% Wednesday as the Energy In...

Oil Rose Toward $40 on Signs U.S. Stockpiles Are Shrinking
Wednesday, 1 July 2020 11:33 WIB

Oil rose after its best quarter in almost three decades following a report pointing to the first drop in U.S. crude stockpiles since May. Futures in New York climbed toward $40 a barrel after closing down 1.1% on Tuesday. The industry-funded American Petroleum Institute said that inventories&n...

ANOTHER NEWS
US Formally Starts Withdrawal From WHO
Wednesday, 8 July 2020 17:03 WIB The White House has formally notified the United Nations that it is pulling the United States out of the World Health Organization, despite the surging number of COVID-19 cases in the country. President Donald Trump froze U.S. funding for the WHO...

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.