Saturday, 19 January 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Halts Slide as OPEC Hints at Production-Cut Deal Extension
Tuesday, 17 April 2018 08:03 WIB | COMMODITY |

Oil halted declines to trade above $66 a barrel on optimism OPEC may extend its agreement to cut oil output and as analysts forecast a decline in U.S. crude stockpiles.

Futures in New York climbed 0.6 percent after posting the biggest loss in more than a week on Monday. The Organization of Petroleum Exporting Countries and allied producers will consider extending their output curbs into 2019, Kuwait Oil Minister Bakheet Al-Rashidi said. Meanwhile, analysts surveyed by Bloomberg forecast U.S. crude inventories fell last week after a surprise increase the previous week.

Oil surged to a three-year high last week after geopolitical risks such as the conflict in Syria and tensions between Saudi Arabia and Iran-backed rebels in Yemen raised concerns over potential supply disruptions. Record U.S. crude production remains a major concern for OPEC and its allies who have been battling to reduce a global inventory glut via supply reductions for the last 15 months.

West Texas Intermediate for May delivery climbed as much as 40 cents to $66.62 a barrel on the New York Mercantile Exchange, and traded at $66.59 at 9:33 a.m. in Tokyo. The contract fell $1.17 to close at $66.22 on Monday. Total volume traded was about 65 percent below the 100-day average.

Brent for June settlement added 35 cents to $71.77 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a $5.20 premium to June WTI.

Source : Bloomberg

RELATED NEWS
Oil end lower as U.S. output climbs and traders eye U.S.-China trade developments...
Friday, 18 January 2019 05:11 WIB

Minyak berjangka berakhir dengan kerugian moderat pada hari Kamis, ditekan oleh data baru-baru ini yang menunjukkan kenaikan mingguan dalam produksi minyak mentah AS, tetapi berita yang terlambat tent...

Oil Prices End Higher as U.S. Crude Supplies Fall a Second Week...
Thursday, 17 January 2019 04:09 WIB

Minyak berjangka berakhir lebih tinggi pada hari Rabu, dengan harga AS mencapai menit terakhir, perubahan moderat karena laporan pemerintah AS mengungkapkan penurunan mingguan kedua berturut-turut dal...

Oil Rises 3% as China Moves to Stimulate Economy...
Wednesday, 16 January 2019 04:02 WIB

Minyak berjangka menetap lebih tinggi pada hari Selasa, memulihkan sebagian dari kerugian yang diderita selama sesi back-to-back karena China mengambil langkah untuk meningkatkan ekonominya sehari set...

U.S. Oil Prices End Lower to Snap 9-Session Streak of Gains...
Saturday, 12 January 2019 03:58 WIB

Minyak berjangka turun pada hari Jumat, dengan harga AS merosot untuk mengakhiri kenaikan untuk sembilan sesi berturut-turut yang merupakan yang terpanjang sejak Januari 2010. Minyak mentah West Texa...

Oil Ends at Highest Since Mid-December, Stretching Gains to an 8th Straight Session...
Thursday, 10 January 2019 02:50 WIB

Minyak berjangka menandai penutupan tertinggi sejak pertengahan Desember lalu pada hari Rabu, memperpanjang kenaikan untuk sesi kedelapan berturut-turut. Pembicaraan perdagangan yang berakhir hari Ra...

LATEST NEWS
Hong Kong, Shanghai Stocks End Week With Gains

Hong Kong stocks finished another healthy week on a positive note Friday as investors cheered a report that the US is considering lifting Chinese tariffs in a bid to hammer out a trade deal between the world's top two economies. The Hang Seng...

Dow Logs 300-Point Gain as Stocks String Together Four-Day Winning Streak

U.S. stocks ended the week strong on Friday, booking a four-day streak of gains, after reports that Washington and Beijing were debating concessions to help secure an eventual resolution to the ongoing U.S.-China trade dispute. The S&P 500...

U.S. Oil Prices Finish Higher, Lift Weekly Gain to More Than 4%

Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of more than 4% as optimism surrounding progress toward a resolution of the U.S.-China trade dispute eased worries about energy demand. Data from Baker Hughes Friday also...

POPULAR NEWS
Gold Rises as Brexit Turmoil Eclipses Jump in Equities
Thursday, 17 January 2019 03:59 WIB

Gold futures rose for the third time in four sessions as the U.K.™s fallout over Brexit eclipsed a global stock market rally. The metal...

Gold Pulls Back From 2-Week High as $1,300 Mark Proves Elusive
Friday, 18 January 2019 02:13 WIB

Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line...

Gold slips from 2-week high as $1,300 proves to be a near-term barrier
Thursday, 17 January 2019 20:23 WIB

Gold futures prices slipped from two-week highs on Thursday, as the psychologically important $1,300 line remained elusive for another session....

Gold pauses as investors wave off geopolitical worries, snap up stocks
Wednesday, 16 January 2019 21:17 WIB

Gold futures struggled for direction Wednesday as investors waved off turmoil surrounding the U.K.'s plan to leave the European Union and continued...