Thursday, 09 July 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Set for Fourth Weekly Advance Ahead of Key OPEC+ Meeting
Friday, 29 November 2019 13:55 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

Oil is heading for a fourth weekly gain, the longest winning streak since April, before a key OPEC+ meeting next week that will set the path for future production cuts.

Futures were steady near $58 a barrel in New York as the U.S. Thanksgiving holiday reduced trading volumes. Saudi Arabia is likely to signal at the Vienna gathering that it™s no longer willing to compensate for the non-compliance of other members, according to people familiar with the kingdom's thinking. OPEC and its allies are expected to extend the current supply pact, rather than deepen reductions, according to a Bloomberg survey.

West Texas Intermediate for January delivery lost 12 cents, or 0.2%, to $57.99 a barrel on the New York Mercantile Exchange as of 2:18 p.m. in Singapore. There was no settlement Thursday due to the U.S. holiday and all transactions will be booked Friday. Prices are up 0.4% this week and are around 7% higher in November.

Brent for January settlement dropped 0.4% to $63.61 a barrel on the London-based ICE Futures Europe Exchange, declining for a third day. The contract is up 0.3% this week, also heading for a fourth weekly advance. The global benchmark crude traded at a $5.62 premium to WTI.

Source : Bloomberg

RELATED NEWS
Oil Steady as Coronavirus Fears Offset Gasoline Recovery Signs...
Thursday, 9 July 2020 18:21 WIB

Concerns about renewed coronavirus lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand on Thursday to keep a lid on oil prices. The market is also in a holding patte...

Oil Anchored Near $41 With Gains Capped by Rising Stockpiles...
Thursday, 9 July 2020 08:27 WIB

Oil was anchored near $41 a barrel in New York with swelling U.S. crude stockpiles raising fresh concerns about supply, while coronavirus cases continued to surge across the world. Stockpiles at...

Oil rises on improving U.S. gasoline demand...
Thursday, 9 July 2020 02:45 WIB

Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent ...

Oil Stuck Below $41 With Signs U.S. Crude Stockpiles Swelled...
Wednesday, 8 July 2020 14:36 WIB

Oil was anchored below $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections...

Oil Stuck Below $41 With Signs U.S. Crude Stockpiles Swelled...
Wednesday, 8 July 2020 09:01 WIB

Oil was anchored near $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections....

LATEST NEWS
Gold Futures Slip, Set to Take a Breather after Carving Out Fresh 9-Year Peak

Gold futures edged back early Thursday, giving up some of its gains after the precious metal scored another settlement at the highest since September 2011, but silver and platinum futures were staging a sharp advance. Precious metals have mostly...

Oil Steady as Coronavirus Fears Offset Gasoline Recovery Signs

Concerns about renewed coronavirus lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand on Thursday to keep a lid on oil prices. The market is also in a holding pattern ahead of a meeting on July 15 of the market...

US COVID-19 Cases Rising, But Deaths Flat, for Now

The number of people infected with the coronavirus is rising sharply in the United States. But the number of people dying is flat. It sounds like good news. But experts warn against reading too much into it. The number of new cases has seen a...

POPULAR NEWS
Gold futures log highest finish since September 2011
Wednesday, 8 July 2020 01:13 WIB

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a...

Gold futures finish higher, near 1-week high
Tuesday, 7 July 2020 01:35 WIB

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was...

Gold futures up a fourth straight session to mark another finish at the highest since 2011
Thursday, 9 July 2020 01:11 WIB

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold...

Gold Rises Back Near $1,800 as U.S. Dollar Softens to Start July's First Full Week
Monday, 6 July 2020 20:16 WIB

Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global...