Monday, 01 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil gains after strong U.S. retail sales help ease recession worries
Friday, 16 August 2019 08:28 WIB | ENERGY |MinyakWTIBrentMinyak MentahOil,Crude Oil

Crude oil prices rose on Friday after two days of declines, buoyed following data showing a rise in U.S. retail sales helped ease some concerns about a recession in the world's biggest economy.

Brent crude was up 31 cents, or 0.5%, at $58.54 a barrel at 00:47 GMT, after falling 2.1% on Thursday and 3% the previous day.

U.S. WTI crude was up 43 cents, or 0.8%, at $54.90 a barrel, having fallen 1.4% the previous session and 3.3% on Wednesday.

U.S. retail sales rose 0.7% in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, according to data that came a day after a key part of the U.S. Treasury yield curve inverted for the first time since June 2007 prompting a sell-off in stocks and crude oil.

An inverted Treasury yield curve is historically a reliable predictor of looming recessions.

Source : Reuters

RELATED NEWS
U.S. oil futures reverse course to finish higher, climb 88% for the month...
Saturday, 30 May 2020 02:12 WIB

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rig...

Oil Sinks on Demand Jitters, U.S.-China Tensions, but on Track for Biggest Monthly Rise in 11 years...
Friday, 29 May 2020 19:24 WIB

Oil futures fell Friday, with traders citing uncertainty about demand for fuel and rising U.S.-China tensions over Hong Kong, but the U.S. crude benchmark remained on track for its biggest monthly ris...

Oil jumps more than 2% to reverse early losses on higher U.S. gasoline demand, refinery runs...
Friday, 29 May 2020 01:52 WIB

Oil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that China™s new Hong Kong security law co...

Oil Lower as Rising Crude Inventories Stir Doubts Over Recovery in Demand...
Thursday, 28 May 2020 19:07 WIB

Oil futures lost ground Thursday after data from a U.S. industry trade group showed a rise in crude inventories, raising questions over whether expectations for a sharp recovery in demand were overdon...

Oil drops more than 4% in second negative session in three on U.S.-China tensions...
Thursday, 28 May 2020 01:42 WIB

Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China™s proposed security law in Hong Kong and as some traders doubted Russia™s commi...

LATEST NEWS
Hong Kong stocks end week with more losses (Review)

Hong Kong stocks finished with more losses Friday as traders nervously await Donald Trump's news conference, in which he will set out the US response to China's plans to impose a security law on the financial hub. The Hang Seng Index fell 0.74...

Stocks Erase Early Losses to End Mixed as Trump Refrains From Tearing Up U.S.-China Trade Deal

Stocks reversed early losses to post a mixed finish Friday, capping a strong weekly and monthly performance, after President Donald Trump announced a series of measures aimed at punishing China over its treatment of Hong Kong but refrained from...

U.S. oil futures reverse course to finish higher, climb 88% for the month

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production...

POPULAR NEWS
Gold futures end higher, up more than 3% for the month
Saturday, 30 May 2020 01:21 WIB

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile,...

Gold Rises Friday and Set for Weekly Gain as Investors Await President Trump Statement on China
Friday, 29 May 2020 19:45 WIB

Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and...

Hong Kong stocks end week with more losses
Friday, 29 May 2020 15:29 WIB

Hong Kong stocks finished with more losses Friday as traders nervously await Donald Trump's news conference, in which he will set out the US...

Gold up as markets cautiously await Trump's response on HK
Friday, 29 May 2020 17:26 WIB

Gold prices rose on Friday, supported by lingering U.S.-China trade tensions, while market participants cautiously awaited Washington's response to...