Monday, 26 August 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Drifts Near $69 as Trade Spat Counters Signs of Lower Supply
Monday, 6 August 2018 10:45 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil traded below $69 a barrel as investors weighed the prospect of shrinking global demand due to a trade spat between the world™s two biggest economies against signs of lower supply.

While futures were up 0.5 percent in New York on Monday, that follows a 7.6 percent decline over the past five weeks. China released a list of $60 billion in U.S. goods that will be targeted with tariffs in retaliation for America™s plan to impose duties on $200 billion in imports from the Asian nation. In the Middle East, Saudi Arabia is said to have cut output after signs that it couldn™t find buyers to justify pumping record levels. Meanwhile, U.S. drillers reduced the number rigs put to work.

West Texas Intermediate crude for September delivery traded at $68.80 a barrel on the New York Mercantile Exchange, up 31 cents, at 12:08 p.m. in Seoul. The contract slid 47 cents to $68.49 on Friday. Total volume traded was about 58 percent below the 100-day average.

Brent for October settlement traded at $73.55 a barrel on the London-based ICE Futures Europe exchange, up 34 cents. The contract declined 24 cents to $73.21 on Friday. The global benchmark crude traded at a $5.88 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS
Oil Prices Down as China Places More Tariffs on Crude and Other U.S. Products...
Monday, 26 August 2019 12:33 WIB

Oil Prices were down on Monday in Asia after China announced late last week an additional 10% tariff on $75 billion of U.S. products, including crude. In retaliation, U.S. President Donald Trump said...

Oil Down Nearly 2% as Trade War Shakes Confidence...
Monday, 26 August 2019 08:35 WIB

Oil prices fell on Monday, pushing U.S. crude to its lowest in more than two weeks, as a ratcheting up of tensions in the U.S.-China war knocked confidence in the global economy. Brent crude was down...

Oil prices slide 2.1% as US-China trade war escalates...
Saturday, 24 August 2019 03:44 WIB

Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking another escalation of a protracted trade dispute between the world™s two lar...

Oil Prices Dips Ahead of Powell Speech...
Friday, 23 August 2019 19:18 WIB

Oil prices traded slightly lower on Friday as markets prepped for a speech from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium. New York-traded West Texas Intermediate ...

Oil Ends Lower as Demand Worries Pressure Prices...
Friday, 23 August 2019 02:17 WIB

Oil futures ended lower on Thursday, weighed down by expectations for surplus supplies, with the economy and energy demand moving back into focus on the first day of the Jackson Hole economic policy s...

LATEST NEWS
European Stocks Open Lower Amid Rising US-China Trade Tensions

European stocks opened lower on Monday as investors reacted to the latest escalation in the U.S.-China trade war. The pan-European Stoxx 600 fell about 0.5% during morning deals, with sectors and major bourses broadly in the red. U.K. markets are...

Tokyo's Nikkei Closes Down More Than 2% on Trade Fears

Tokyo's benchmark Nikkei index plunged more than two percent on Monday as the yen surged against the dollar on escalating US-China trade tensions. The Nikkei 225 fell 2.17 percent, or 449.87 points, to close at 20,261.04, while the broader Topix...

Gold Prices Gain as Escalating Trade War Sends Traders Fleeing from Equities

Gold prices rose on Monday in Asia as investors seek safe-haven from trade war fears. Gold Futures for December delivery were up 1% at $1,552.90 on the Comex division of the New York Mercantile Exchangem by 1:22 AM ET (05:22 GMT). The gains came...

POPULAR NEWS
Gold Futures Post a Gain For a 4th Week in a Row
Saturday, 24 August 2019 01:21 WIB

Gold futures rallied Friday, with China™s plan for retaliatory tariffs on U.S. goods helping to boost investor interest in the haven metal. "Gold...

Gold prices head lower, set to snap weekly streak of gains ahead of Powell speech
Friday, 23 August 2019 19:19 WIB

Gold futures on Friday headed modestly lower ahead of much-awaited speech from Federal Reserve Chairman Jerome Powell near Jackson Hole, Wyo., which...

Oil prices slide 2.1% as US-China trade war escalates
Saturday, 24 August 2019 03:44 WIB

Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking another escalation of a...

US futures point to higher open ahead of Powell's speech
Friday, 23 August 2019 16:00 WIB

U.S. stock index futures were higher Friday morning, as market participants awaited a key speech from the Federal Reserve's top official. At around...