Saturday, 25 January 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Steady Near Six-Week Low on Receding U.S.-Iran War Risk
Tuesday, 14 January 2020 09:18 WIB | ENERGY |BrentWTI

Oil traded near a six-week low on easing tensions in the Middle East, although improving U.S.-China trade relations offered some support.

Futures in New York were steady after falling more than 8% over the past five days as the threat of an outright war between the U.S. and Iran receded. Asian stocks rose after the White House lifted its designation of China as a currency manipulator two days before the sides are set to sign a phase-one trade deal.

While the limited trade agreement is aiding financial market sentiment, the oil market still faces the prospect of being over-supplied this year due to new production from mainly non-OPEC countries. Saudi Arabian Energy Minister Abdulaziz bin Salman said Monday that the group and its allies remain focused on using output cuts to reduce oil inventories.

West Texas Intermediate crude for February delivery added 13 cents, or 0.2%, to $58.21 a barrel on the New York Mercantile Exchange as of 9:58 a.m. in Singapore. It fell 1.6% on Monday to close at the lowest level since Dec. 3.

Brent futures for March settlement rose 0.3% to $64.40 a barrel on the ICE Futures Europe exchange after dropping 1.2% on Monday. The global benchmark crude traded at a $6.17 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS
Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth...
Saturday, 25 January 2020 03:00 WIB

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer...

Oil Set for Weekly Slump as Asia Virus Adds to Demand Concerns...
Friday, 24 January 2020 18:37 WIB

Oil headed for a 5% loss this week amid fears that China™scoronavirus will erode fuel demand just as markets struggle with a fragile world economy and adequate supplies. Futures held abov...

Oil steadies, but concern over spreading China virus weighs...
Friday, 24 January 2020 09:58 WIB

Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so...

U.S. oil futures mark lowest settlement since late November...
Friday, 24 January 2020 03:11 WIB

Oil futures fell sharply on Thursday, sending U.S. prices to their lowest settlement since late November, as the spread of coronavirus raised worries about the global economy and energy demand. "All ...

Oil Prices Pare Losses as EIA Reports a Modest, Unexpected Weekly Fall in U.S. Crude-Oil Supplies...
Thursday, 23 January 2020 23:16 WIB

Oil prices pared some of their earlier losses on Thursday after weekly data from the Energy Information Administration revealed that U.S. crude supplies fell by 400,000 barrels for the week ended Jan....

LATEST NEWS
Stocks end lower on worries over coronavirus outbreak

Stocks ended lower Friday, giving up early gains after authorities confirmed a second U.S. coronavirus case. The Dow Jones Industrial Average fell around 170 points, or 0.6%, to end near 28,990, according to preliminary figures, while the S&P...

Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels...

Gold prices notch gains for the day and week as coronavirus fears intensify

Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also...

POPULAR NEWS
Gold futures finish at their highest in more than 2 weeks
Friday, 24 January 2020 01:53 WIB

Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S....

Gold finishes lower as worries over China virus ebb
Thursday, 23 January 2020 02:03 WIB

Gold futures ended with a modest loss on Wednesday, lacking support as some equities markets in Asia and the U.S. climbed and while commodities...

Gold Holds Steady On Central Bank Policy Expectations
Wednesday, 22 January 2020 21:13 WIB

Gold prices were little changed on Wednesday as technical support on expected dovish monetary policy from central banks offset revived appetite for...

Gold Declines Amid Virus Concerns; Palladium Rallies
Wednesday, 22 January 2020 15:53 WIB

Gold fell for a second day as markets assessed the likely impact of the spread of China™s coronavirus. Palladium climbed after...