Tuesday, 07 July 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.S. oil prices settle nearly 25% higher; Trump expects a Saudi Arabia-Russia output cut
Friday, 3 April 2020 01:54 WIB | ENERGY |Minyak WTIMinyak

Oil futures rallied Thursday, finding support after President Donald Trump tweeted that he spoke to Saudi Arabia's Crown Prince Mohammed bin Salman, who held a discussion with Russian President Vladimir Putin, and now expects the two major oil producers to announce a production cut of "approximately 10 Million Barrels."

Trump later tweeted that the cut could be as high as 15 million barrels. Saudi Arabia has also called for an "urgent" meeting of OPEC and its allies. News reports, however, said a Russian spokesman denied that Putin spoke with the Saudi crown prince.

May West Texas Intermediate oil rose $5.01, or 24.7%, to settle at $25.32 a barrel on the New York Mercantile Exchange after trading as high as $27.39.

Source : MarketWatch

RELATED NEWS
Oil Down as U.S. Virus Spike Stokes Demand Worries...
Tuesday, 7 July 2020 18:27 WIB

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 44 cents, or ...

Oil Prices Inch Higher on Output Cut Support, But U.S. Coronavirus Spike Caps Gains...
Tuesday, 7 July 2020 10:29 WIB

Oil prices cautiously rose in early trade on Tuesday with major producers sticking to supply cuts, but gains were capped as U.S. coronavirus cases surged, potentially hampering a recovery in fuel dema...

Oil steady as hopeful economic data face spike in virus cases...
Tuesday, 7 July 2020 02:53 WIB

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. Brent crud...

Oil Mixed on Tighter Supply, Surge in U.S. Virus Cases...
Monday, 6 July 2020 19:04 WIB

Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavir...

Oil Prices Mixed as Coronavirus Spike Casts Shadow Over U.S. Demand...
Monday, 6 July 2020 13:12 WIB

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus ...

LATEST NEWS
Gold Retreats from Multi-Year Peak as Dollar Rebounds

Gold fell on Tuesday in the face of competition from safe haven inflows into the dollar as COVID-19 cases increased globally and investors booked profits following bullion's rally to a near eight-year peak. Spot gold fell 0.4% to $1,776.43 per...

Oil Down as U.S. Virus Spike Stokes Demand Worries

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 44 cents, or 1.02%, to $42.66, after hitting a high of...

TikTok Says It Will Leave Hong Kong after Recent Passage of Security Law

TikTok said Tuesday it will stop operations in Hong Kong, joining other social media companies in warily eyeing ramifications of a sweeping national security law that took effect last week. The short-form video app's planned departure from Hong...

POPULAR NEWS
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 Ticks Up on Concerns Over Increase in Virus Cases
Monday, 6 July 2020 14:27 WIB

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high...

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...

Gold price bull rally: the drive is alive
Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong...