Wednesday, 24 July 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Set for Third Weekly Increase on OPEC Curbs, Demand Hopes
Friday, 18 January 2019 20:08 WIB | ENERGY |MinyakWTIBrentOil,

Oil headed for a third weekly increase on expectations that production cuts by OPEC and resilient fuel demand will keep global markets in balance.

Futures rose as much as 1.7 percent in New York, with gains over the past three weeks totaling about 16 percent. OPEC's production fell by the most in almost two years in December before a fresh round of cuts started this month, and Russia is aiming to speed up the pace of its curbs. The International Energy Agency maintained its outlook for an acceleration in global demand growth this year as lower prices offset the economic slowdown.

West Texas Intermediate crude for February delivery rose as much as 86 cents to $52.93 a barrel on the New York Mercantile Exchange, and was at $52.57 as of 12:28 p.m. London time. The contract lost 24 cents on Thursday. Futures are up 1.9 percent this week.

Brent for March settlement advanced 46 cents to $61.64 a barrel on the London-based ICE Futures Europe exchange. Prices are up 2 percent this week, and 15 percent higher this month. The global benchmark crude was at an $8.79 premium to WTI for March.

Source: Bloomberg

RELATED NEWS
Oil Prices Ease as Traders Weigh Middle East Tensions, Demand...
Tuesday, 23 July 2019 09:06 WIB

Oil prices inched lower on Tuesday as the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eyed a weaker d...

Oil prices finish higher after 'ratcheting up of tensions' between Iran and the West...
Tuesday, 23 July 2019 02:22 WIB

Oil prices finished higher on Monday, as investors watched an increasingly complicated situation in the Persian Gulf after Iran late last week seized a British-flagged tanker, and as the U.K. faces a ...

Oil Advances as Iran's Seizure of Tanker Keeps Tension High...
Monday, 22 July 2019 14:27 WIB

Oil extended gains as tensions in the Persian Gulf remained elevated after Iran seized a British tanker, and Libyan production fell after an unidentified group reportedly shut the country™...

Oil Gains as Gulf Tanker Seizure Raises Tensions...
Monday, 22 July 2019 08:39 WIB

Oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Brent crude futures were up 51 cents, or 0.8%, at$62...

Oil Gains For The Session, But U.S. Prices Drop Over 7% For The Week...
Saturday, 20 July 2019 02:08 WIB

Oil futures finished higher Friday after reports that Iran seized a U.K.-flagged ship in the Gulf of Oman. Prices still settled lower for the week, however, on worries about a slowdown in demand. The...

LATEST NEWS
South Korean Claims of Warning Shots to Russian Jets Disputed by Moscow

South Korean air force jets fired 360 rounds of warning shots Tuesday after a Russian military plane twice violated South Korea's airspace off the country's east coast, Seoul officials said in an announcement that was quickly disputed by...

Stocks rise after strong earnings from Coca-Cola and United Technologies

Stocks rose on Tuesday as investors cheered strong quarterly numbers from companies like Coca-Cola and United Technologies. The Dow Jones Industrial Average climbed 84 points, or 0.3%. The S&P 500 and Nasdaq Composite also advanced 0.3%...

European stocks close higher on strong earnings; Johnson wins UK leadership race

European stocks closed higher Tuesday as investors digested a strong set of corporate results and looked ahead to this week™s European Central Bank policy meeting. The pan-European Stoxx 600 closed up 0.98% to 391.54 with the majority of sectors...

POPULAR NEWS
Silver closes at 13-month high as gold ekes out a gain
Tuesday, 23 July 2019 02:19 WIB

Silver futures settled at a 13-month high on Monday, outpacing strength in gold, which saw prices eke out only a modest gain. Rising geopolitical...

Gold Prices Rise on Rate Cut Expectations
Monday, 22 July 2019 13:11 WIB

Gold prices rose on Monday in Asia after landing a second-straight week of gains as traders expect a U.S. rate cut this month. Gold futures for...

Gold looks for direction after hitting 6-year high
Monday, 22 July 2019 19:47 WIB

Gold futures hovered near unchanged Monday, in consolidation mode after hitting a six-year high last week but underpinned by rising geopolitical...

Gold Retreats Further From Six-Year Peak as Deep Rate Cut Views Fade
Monday, 22 July 2019 09:47 WIB

Gold prices inched lower on Monday, extending losses after the metal hit a six-year peak on Friday, as investors rolled back expectations for a...