Thursday, 17 October 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Resumes Steep Drop as U.S.-China Trade Row Raises Demand Worries
Monday, 5 August 2019 18:40 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil futures resumed their drop Monday, tracking losses ripping through broader financial markets as concern for a prolonged trade war and its risk to global oil demand has been rekindled in recent days.

Last week, the U.S. oil benchmark suffered its biggest one-day fall in more than four years and ended lower for the week after President Donald Trump moved to impose additional import tariffs on Chinese goods and China pledged retaliation on other goods.

Early Monday, West Texas Intermediate crude for September delivery fell 47 cents, or 0.8%, to $55.19 a barrel on the New York Mercantile Exchange. Friday™s rebound recovered a portion of the 7.9% drop from Thursday. But the front-month contract still suffered a 1% weekly loss last week, according to Dow Jones Market Data, as WTI™s drop on Thursday marked the biggest percentage fall for a front-month contract since Feb. 4, 2015 and the settlement at $53.95 that day was the lowest since June 19, according to Dow Jones Market Data.

Global benchmark October Brent crude fell 72 cents, or 1.2%, to $61.38 a barrel on ICE Europe. Its loss fattened by Thursday™s 7% slide, the contract ended 2.3% lower for last week.

Source : Marketwatch

RELATED NEWS
Oil mixed as worries over demand prospects persist...
Wednesday, 16 October 2019 19:13 WIB

Oil futures were putting in a mixed performance Wednesday, with Brent crude edging lower and West Texas Intermediate in positive territory, as worries over global demand lingered. West Texas Intermed...

Oil Prices Rise Amid Brexit Hope, But Worries Over China Limit Gain...
Wednesday, 16 October 2019 13:36 WIB

Oil prices recovered on Wednesday in Asia amid renewed hopes of a potential Brexit deal between the U.K. and the European Union. U.S. Crude Oil WTI Futures gained 0.3% to $52.97 by 1:13 AM ET (05:13 ...

Oil Holds Two Days of Losses as Demand Outlook Deteriorates...
Wednesday, 16 October 2019 09:17 WIB

Oil held two days of losses as a worsening demand outlook was compounded by signs it will be difficult for the U.S. and China to reach even a limited trade deal. Futures in New York edged higher afte...

Oil Prices Fall on China Data, Trade War Jitters...
Tuesday, 15 October 2019 18:52 WIB

Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal des...

Oil prices extend losses into second session on weak China data...
Tuesday, 15 October 2019 13:46 WIB

Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer's energy demand growth. Brent crude (LCOc1) ...

LATEST NEWS
Tokyo stocks open lower

Tokyo stocks opened slightly lower on Thursday following drops on Wall Street as investors watched for any developments in Brexit talks in Brussels. The benchmark Nikkei 225 index was down 0.08 percent or 18.91 points at 22,454.01 in early trade...

Hong Kong stocks closed higher (Review)

Hong Kong shares closed higher on Wednesday, in line with a rally across Asia and after shrugging off a mid-morning drop when the city's leader was forced to briefly abandon a policy speech owing to heckling by opposition lawmakers.The Hang Seng...

White House Assigned '3 Amigos' to Head Ukraine Policy, Top Diplomat Says

A top U.S. State Department official told House investigators privately Tuesday administration officials told him to "lay low" on matters involving Ukraine in deference to the "three amigos" who assumed control of foreign policy toward the Eastern...

POPULAR NEWS
Gold Posts Lowest Close So Far This Month as Investors Weigh Trade Deal, Earnings Season
Wednesday, 16 October 2019 03:44 WIB

Gold prices declined on Tuesday to mark their lowest settlement month to date, as investors awaited clarity on U.S.-China trade talks and as...

Gold Flirts With $1,500 Again on New Trade War Worries
Tuesday, 15 October 2019 03:33 WIB

What™s bad for trade is good for gold. The yellow metal found favor again with haven investors on Monday, flirting with the key bullish level of...

Gold edges higher as Brexit uncertainty spurs safe-haven bid
Wednesday, 16 October 2019 08:48 WIB

Gold prices edged higher on Wednesday after shedding nearly 1% in the previous session, as it remained unclear if Britain could avoid postponing its...

Gold Edge Higher on Trade Optimism; Palladium at Record
Monday, 14 October 2019 16:23 WIB

Gold holds below its 50-day moving average after dropping last week on U.S.-China trade optimism. Palladium hit a fresh record. Spot...