Thursday, 04 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Prices Hold Gains after Chinese Data

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 Intermediate crude futures gained 16 cents, or 0.3%, to $60.37 a barrel by 7:38 AM ET (11:38 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., traded up 17 cents, or 0.3%, to $66.89.

Despite the fact that the Chinese economy registered its slowest growth in 27 years, better-than-expected increases in industrial output, retail sales and capital spending, boosted hopes that the world™s second largest economy may be stabilizing, supporting demand for oil.

With regard to the 6.2% growth seen in the second quarter, its slowest since the first quarter of 1992, analysts suggested that Beijing may also step up support measures that could be positive for oil.

Source : Investing.com

RELATED NEWS
Oil Prices Fall on Concerns Supply to Rise as Producers Wrangle on Cuts...
Thursday, 4 June 2020 10:30 WIB

Oil prices fell on Thursday, reversing gains in the previous session, on concerns that supply will rise if major producers are unable to agree to extend the depth of output cuts that have supported re...

Oil Slips With OPEC+ Discord and U.S. Demand Data Sowing Doubt...
Thursday, 4 June 2020 07:53 WIB

Oil retreated from a three-month high as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery. ...

Oil rises in volatile session as traders eye OPEC cuts...
Thursday, 4 June 2020 01:43 WIB

Oil moved between gains and losses in a volatile trading session, as demand continues to improve, but as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and...

Oil Hits Three-Month High Over Hopes For Output Cuts...
Wednesday, 3 June 2020 09:46 WIB

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0....

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns...
Wednesday, 3 June 2020 01:48 WIB

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. st...

LATEST NEWS
Gold Rises on Political Frictions, Weaker Dollar

Gold prices gained from last session™s fall on lingering political tensions and a weaker dollar, but were still near their lowest in over a week as equities were set to extend their gains on economic optimism. Spot gold rose 0.4% to $1,703.67...

Tokyo Shares Lose Steam But Near 3-Month High on Rebound Hopes, Weaker Yen

Japanese stocks drifted near their more than three-month highs on Thursday on signs of an economic rebound from a coronavirus-led slump and a weakening yen, with the rally losing steam as investors locked in profits. The benchmark Nikkei average...

Oil Prices Fall on Concerns Supply to Rise as Producers Wrangle on Cuts

Oil prices fell on Thursday, reversing gains in the previous session, on concerns that supply will rise if major producers are unable to agree to extend the depth of output cuts that have supported recent gains. Brent crude futures fell 1%, or 41...

POPULAR NEWS
Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB

Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...

Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold Prices See Subdued Rise, Buoyed By Weaker Dollar As Stocks Rally
Tuesday, 2 June 2020 19:23 WIB

Gold futures on Tuesday were edging higher on the back of a weaker U.S. dollar, with gains capped by the precious metal by a global rise in assets...