Monday, 23 September 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil rises after U.S. Navy downs Iranian drone; set for weekly fall
Friday, 19 July 2019 18:33 WIB | ENERGY |MinyakWTIBrentMinyak MentahOil,

Oil prices rose on Friday as tensions spiked again in the Middle East after the United States said it had destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows.

Benchmark crude prices were still on track for their biggest weekly decline in seven weeks, however, having fallen sharply earlier in the week on concerns over global oil demand amid slowing economic growth.

Brent crude futures were up 1.11 cents, or 1.78%, at $63.04 a barrel by 10:37 GMT, having risen as high as $63.32. Brent fell 2.7% on Thursday, its fourth straight session of losses, and was set for a weekly drop of around 5%.

West Texas Intermediate crude futures were 81 cents, or 1.44%, higher at $56.11 per barrel after touching $56.36. They ended 2.6% lower in the previous session and were headed for a weekly decline of around 6%.

Indications that the U.S. Federal Reserve will cut rates aggressively to support the economy were also behind Friday's gains, said Stephen Innes, managing partner at Vanguard Markets.

Source : Reuters

RELATED NEWS
U.S. Oil Prices Up 6% For The Week, Biggest Weekly Gain in 3 Months...
Saturday, 21 September 2019 02:17 WIB

Oil futures ended lower on Friday, but tallied a gain of almost 6% for the week, the largest such rise in three months. As the Saudis reveal the extent of damages from the attacks on oil facilities l...

Oil Set for Biggest Weekly Gain Since January After Saudi Attack...
Friday, 20 September 2019 20:23 WIB

Oil in London was on track for its biggest weekly increase since January as traders waited to see whether Saudi Arabia can fulfill promises to swiftly repair critical facilities attacked last wee...

Tensions in Middle East hoist oil prices to largest weekly gain for months...
Friday, 20 September 2019 14:19 WIB

Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supp...

Oil's Rising Again as Iran's Warning of War Ratchets Up Tensions...
Friday, 20 September 2019 08:44 WIB

The threat of war in the Middle East is pushing oil prices higher again, capping one of the most dramatic ever weeks for crude markets in which 5% of the world's supplies were cut by attacks...

U.S. Oil Prices Pare Most of Their Gains as Gasoline Futures Rally...
Friday, 20 September 2019 02:30 WIB

Oil futures rose Thursday, but U.S. prices gave up nearly all of their earlier gains by the settlement. Prices found support as Saudi Arabia reportedly contacted foreign producers to help fill holes i...

LATEST NEWS
Hong Kong Stocks Down At Lunch

Shares in Hong Kong were down at the break Monday as investors fret over the China-US trade talks after Donald Trump said he did not want make a piecemeal agreement. The Hang Seng Index fell 0.86 percent, or 228.41 points to 26,207.26. Source : AFP

Asian Shares Dip On Geopolitical Tensions, Oil Up 1%

Most Asian share markets slipped on Monday as investors waited for more clarity on the Sino-U.S. trade talks after recent negotiations, while oil gained more than 1% as Middle East tensions remained elevated. Analysts said investor sentiment was...

Pompeo : Trump's Iran Strategy is Working

Secretary of State Mike Pompeo says the U.S. is working to find a diplomatic outcome to tensions with Iran, which has been blamed for an attack on Saudi oil facilities, but he warned if diplomacy fails President Donald Trump "will make necessary...

POPULAR NEWS
Gold Futures Score First Weekly Gain in a Month
Saturday, 21 September 2019 01:24 WIB

Gold futures climbed Friday to tally a gain for the week, the first in four weeks, as geopolitical tensions remained high, boosting haven demand for...

Gold Stands Tall Above $1,500 After Fed as Palladium Hits Record
Friday, 20 September 2019 16:00 WIB

Gold headed for the first weekly advance in four as mounting economic headwinds and monetary easing stayed in focus after this week's mixed...

Hong Kong Stocks Close Down
Saturday, 21 September 2019 03:33 WIB

Hong Kong stocks ended the week with another loss Friday as investors fret over the impact of weeks of sometimes violent protests on the city's...

Gold ticks higher, set to snap streak of weekly declines
Friday, 20 September 2019 19:43 WIB

Gold prices inched higher Friday but gains were capped by a rise in bonds yields and stocks. However, bullion's trade over the past five sessions...