Wednesday, 08 April 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Prices Fall on Soaring U.S. Crude Stockpiles
Thursday, 2 May 2019 13:28 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices fell on Thursday in Asia after a weekly U.S. Energy Information Administration (EIA) report showed U.S. crude stockpiles rose much more than expected.

The U.S. Crude Oil WTI Futures were down 0.2% to $63.45 by 12:30 AM ET (04:30 GMT), while international Brent Oil Futures also fell 0.2% to $72.00.

Crude stockpiles rose by 9.9 million barrels in the week to April 26, six times more than the forecasts for a build of 1.5 million, the EIA said in its regular weekly report.

The EIA said gasoline inventories rose by 0.9 million barrels, compared to expectations for a draw of 1 million barrels. Distillate stockpiles dropped by 1.3 million barrels, compared to forecasts for a decline of 193,000 barrels.

U.S. crude production, meanwhile, rose by 100,000 barrels, to a record high of 12.3 million barrels per day.

Source : Investing.com

RELATED NEWS
Oil Rises as Hopes Build For Global Production Cut...
Tuesday, 7 April 2020 18:01 WIB

Oil prices clawed their way into positive territory on Tuesday as hopes that the world™s biggest producers will agree to cut output outweighed analyst fears that a global recession in the wake of th...

Oil Prices Rally as Saudi-Russian Deal "Very, Very Close"...
Tuesday, 7 April 2020 10:09 WIB

Oil prices rallied in Asia on Tuesday from a dramatic 8%-fall in their last session. International Brent Oil Futures rose 2.43% to $34.11 by 9:52 PM ET (2:52 AM GMT) and U.S. Crude Oil WTI Futures ju...

Oil prices turn lower despite hints Russia and Saudi Arabia are 'very close' to a deal...
Monday, 6 April 2020 19:46 WIB

Oil prices dipped during afternoon deals on Monday, reversing earlier gains after the CEO of Russian sovereign wealth fund RDIF told CNBC that Moscow and Riyadh were œvery close to an oil deal. ...

Oil drops on oversupply worries as Saudi Arabia, Russia delay meeting...
Monday, 6 April 2020 13:48 WIB

Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand...

Oil drops over $1 on oversupply after OPEC+ delays meeting...
Monday, 6 April 2020 09:18 WIB

Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus...

LATEST NEWS
Hong Kong Stocks Post More Gains (Review)

Hong Kong stocks enjoyed another healthy rally Tuesday, in line with an Asia-wide advance and following a surge on Wall Street, with traders cheered by signs the rate of coronavirus infections is slowing. The Hang Seng Index climbed 2.12 percent,...

Dow Stages A Nearly 1,000-Point U-Turn Tuesday To End Barely Lower In Choppy

U.S. stocks finished a volatile session in negative territory, as investors failed to nudge equity benchmarks to a second straight gain. Stocks had been rising throughout the session amid continued signs of the slowing spread of COVID-19 across...

Oil Futures End Lower After EIA Cuts Price Forecasts

Oil futures settled lower on Tuesday, giving up earlier gains after the Energy Information Administration lowered its U.S. and global benchmark crude price forecasts for this year and next. Traders also weighed prospects for a global output cut...

POPULAR NEWS
Gold in "Wait and See Mode" as Traders Await More News
Monday, 6 April 2020 10:02 WIB

Gold prices were little changed on Monday morning as traders remained cautious amid the continuous economic turmoil. Gold Futures was up by 0.04%...

Gold Futures Settle at a More Than 7-Year High
Tuesday, 7 April 2020 00:56 WIB

Gold futures climbed on Monday to settle at their highest in more than seven years. "Fiscal and monetary stimulus will provide a nice backdrop for...

Gold Rises More Than 1% as Coronavirus Hits Global Economies
Monday, 6 April 2020 17:40 WIB

Gold jumped more than 1% to a more than one-week high on Monday as worries over a global economic slowdown caused by the coronavirus pandemic drove...

Gold Prices Expected To Shine As Governments Launch Stimulus
Monday, 6 April 2020 11:10 WIB

Gold is expected to keep rising from the mid-March lows, based on the weekly Kitco gold-price survey. The expectation comes after the Federal...