Sunday, 20 October 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Rallies 15%, With U.S. Prices Settling at Their Highest in 4 Months
Tuesday, 17 September 2019 02:01 WIB | ENERGY |Minyak WTIOil,Crude Oil

Oil futures rallied Monday, as a weekend attack on Saudi oil facilities cut the kingdom's daily crude production down by more than half, sparking concerns of a potentially prolonged supply shortage.

The news sparked talk of $100 oil prices, but that scenario "would only occur if there is an all-out war between Saudi Arabia and Iran," said Jay Hatfield, portfolio manager of the Infracap MLP exchange-traded fund. "If production is restored and there is no escalation of tensions, we would expect WTI oil to trade in the $55-65 range up from the prior trading range of $50-60, which would reflect a $5 risk premium.

October West Texas Intermediate oil added $8.05, or 14.7%, to settle at $62.90 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since May 21, according to FactSet data.

Source : Marketwatch

RELATED NEWS
Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand...
Saturday, 19 October 2019 03:44 WIB

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report r...

Oil Rises for a Third Day Amid Low Volumes Yet Concerns Linger...
Friday, 18 October 2019 19:07 WIB

Oil rose for a third day in New York amid low trading volumes, recouping most of this week™s earlier losses, yet the outlook remained clouded by concerns over the economy and abundant supplies. Wes...

Oil prices dip as China posts slowest GDP growth in almost 3 decades...
Friday, 18 October 2019 13:25 WIB

Oil prices fell on Friday after China, the world™s largest oil importer, recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United Stat...

Oil Poised for Weekly Decline as Trade-Deal Optimism Subsides...
Friday, 18 October 2019 09:54 WIB

Oil headed for a weekly drop as optimism over U.S.-China trade detente was tempered by signs it will still be hard to reach even a limited deal, while American crude inventories data painted a mixed p...

EIA: US crude oil stocks increased by 9.3 million barrels...
Thursday, 17 October 2019 22:12 WIB

The weekly report published by the US Energy Information Administration (EIA) revealed that commercial crude oil inventories in the US increased by 9.3 million barrels in the week ending October 11, c...

LATEST NEWS
Hong Kong, Shanghai stocks end with losses (Review)

Shares in Hong Kong and Shanghai sank on Friday after data showed China's economy growing at its slowest pace for almost 30 years. The Hang Seng Index fell 0.48 percent, or 128.91 points, to 26,719.58. The benchmark Shanghai Composite Index fell...

Dow Industrials End 1% Lower as Boeing, J&J Shares Exact More Than 220-Point

U.S. stocks finished near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion's share of the pain for the Dow industrials. The Dow closed off 255 points, or 0.9%, at 26,770. Dow components...

Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S....

POPULAR NEWS
Gold Finishes Higher After Cooler-Than-Expected Retail-Sales Report
Thursday, 17 October 2019 03:40 WIB

Gold prices ended higher on Wednesday as investors watched global political news surrounding trade and Brexit, and reacted to a weaker-than-expected...

Gold Edges Up as Geopolitics Take Control of Trade
Friday, 18 October 2019 03:38 WIB

Investors managed to push gold higher Thursday instead of completely embracing risk, as doubts remained about whether the U.K. will get parliament...

Gold steady as Brexit deal lifts stocks, pressures dollar
Friday, 18 October 2019 08:47 WIB

Gold prices held steady on Friday after Britain managed to eke out a deal for its exit from the European Union, lifting risk appetite, while a...

Gold Steady Ahead of Brexit Talks; Weak US Data Lends Support
Thursday, 17 October 2019 17:15 WIB

Gold prices were nearly steady on Thursday as traders refrained from making any big bets in the absence of fresh developments on the Sino-U.S. trade...