Tuesday, 16 July 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Advances as Shrinking U.S. Stockpiles Add to OPEC Optimism
Thursday, 20 June 2019 10:58 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil rose as U.S. crude stockpiles fell more than forecast and as OPEC™s top producers progressed toward extending output cuts for the rest of the year after ending a monthlong stalemate on a meeting date.

Futures climbed as much as 1.7% in New York, rebounding from a 0.3% drop on Wednesday. American crude inventories fell by 3.1 million barrels last week, according to government data, more than any of the 12 analysts forecast in a Bloomberg survey. Saudi Arabia, Iraq and the United Arab Emirates are all in favor of restraining supply to boost prices amid signs of slowing demand.

West Texas Intermediate for July delivery, which expires Thursday, added 65 cents to $54.41 a barrel on the New York Mercantile Exchange as of 10:29 a.m. Singapore time. Futures dropped 14 cents to $53.76 on Tuesday. The more-active August contract traded 1.3% higher to $54.66.

Brent for August settlement rose 72 cents, or 1.2%, to $62.54 a barrel on London™s ICE Futures Europe Exchange. Prices closed 0.5% lower at $61.82 on Tuesday. The global benchmark crude traded at a $7.88 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS
Oil Prices Slip as Gulf of Mexico Production Restarts, U.S. Output Weighs...
Tuesday, 16 July 2019 19:25 WIB

Oil prices dipped on Tuesday as oil rigs in the Gulf of Mexico underwent the process to restart production following Hurricane Barry, while escalating U.S. output weighed ahead of weekly inventory dat...

Oil prices end lower after last week's gains as Gulf storm threat passes...
Tuesday, 16 July 2019 03:16 WIB

Oil futures settled lower Monday, giving back a portion of last week's sizable gains, as production in the Gulf of Mexico began a post-storm recovery. August West Texas Intermediate crude fell by 63 ...

Oil Prices Hold Gains after Chinese Data...
Monday, 15 July 2019 19:08 WIB

Oil prices traded higher on Monday as positive data from China outweighed the country's slowing economy, providing hopes that demand for oil will remain intact. New York-traded West Texas Intermediat...

U.S. Oil Ends Week Up 5%, But Gulf of Mexico Storm Provides Little Support...
Saturday, 13 July 2019 02:20 WIB

U.S. oil futures ended the week with nearly 5% gain Friday, as ongoing tensions between the U.S. and Iran continued to raise the risk to oil flow in the Middle East. Prices for the session, however, ...

Oil Prices on Track for Weekly Jump as Storm Fears Trump Supply Glut Concerns...
Friday, 12 July 2019 19:32 WIB

Oil prices were on track for a sharp weekly gain as concerns over tropical storm Barry hitting supply outweighed worries of a global supply glut. New York-traded West Texas Intermediate crude futures...

LATEST NEWS
Stocks pull back from record levels as earnings season picks up steam

Stocks got off to a slightly lower start Tuesday as investors digested a stream of earnings reports, including results from Dow components Johnson & Johnson and Goldman Sachs Group Inc. The Dow Jones Industrial Average fell around 7 points, or...

Retail sales pop again in June in good sign for consumer-driven U.S. economy

Sales at U.S. retailers rose solidly in June for the fourth month in a row, pointing to a strong rebound in consumer spending in the second quarter that suggests the economy is not as fragile as the Federal Reserve apparently believes. Retail...

Oil Prices Slip as Gulf of Mexico Production Restarts, U.S. Output Weighs

Oil prices dipped on Tuesday as oil rigs in the Gulf of Mexico underwent the process to restart production following Hurricane Barry, while escalating U.S. output weighed ahead of weekly inventory data. New York-traded West Texas Intermediate...

POPULAR NEWS
Gold prices settle at nearly two-week peak
Tuesday, 16 July 2019 01:55 WIB

Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of...

Wall St. Leans Neutral/Sideways On Gold Prices, Main St. Bullish
Monday, 15 July 2019 13:42 WIB

Wall Street traders and analysts are undecided or else look for gold prices to be sideways this week, while Main Street remained bullish, according...

Gold Steadies as Market Weighs China, Bullish Bet Cut
Monday, 15 July 2019 17:33 WIB

Gold steadied amid signs that China's economy is stabilizing and after hedge fund managers reduced bullish bets on the metal. Gains in Chinese...

Gold Prices Little Changed as China Growth Data Matches Expectations
Monday, 15 July 2019 13:20 WIB

Gold prices were little changed on Monday in Asia after data showed China™s second-quarter growth data slowed to a 27-year low but matched...