Thursday, 18 October 2018
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 Lower On Supply Concerns as Saudi Worries Ease...
Tuesday, 16 October 2018 19:36 WIB

Minyak berjangka turun pada hari Selasa karena ekspektasi untuk meningkatnya inventaris AS dan meragukan bahwa ketegangan antara AS dan Arab Saudi terkait hilangnya seorang jurnalis Saudi akan menghas...

Oil Set for Weekly Loss on Flight From Risk as Stockpiles Grow...
Friday, 12 October 2018 13:57 WIB

Minyak bersiap untuk penurunan mingguan terbesar sejak Mei lalu karena gejolak di ekuitas AS memacu investor untuk menghindari aset berisiko pada saat persediaan minyak mentah di Amerika meningkat. K...

Oil Prices Hold Ground, But Are Set For 4 Percent Weekly Fall...
Friday, 12 October 2018 09:36 WIB

Harga minyak naik pada hari Jumat setelah rutinitas pasar didorong oleh penurunan tajam di pasar ekuitas dan indikasi yang telah berlebihan, tetapi masih berada di jalur penurunan untuk lebih dari 4 p...

Oil Extends Losses as Other Markets Fall, Inventories Rise...
Thursday, 11 October 2018 14:09 WIB

Harga minyak turun ke posisi dua minggu terendahnya pada Kamis ini karena mereka memperpanjang kerugian terbesar dari sesi sebelumnya di tengah pelemahan di pasar saham global, dengan minyak juga tert...

Oil Set for Worst 2-Day Drop Since July as Stock Turmoil Spreads...
Thursday, 11 October 2018 10:35 WIB

Minyak menuju penurunan dua hari terbesarnya sejak Juli lalu karena pelemahan di AS meluas ke pasar komoditas. Kontrak berjangka turun sebanyak 1,7 persen di New York, setelah merosot 2,4 persen pada...

LATEST NEWS
Dollar gains stick as Fed minutes point to further rate hikes

The U.S. dollar held on to gains as minutes of the Federal Reserve's September meeting underlined expectations for the central bank to continue on its path of gradual rate increases. The majority of the Fed's Open Market Committee believe that...

British, EU Leaders Meeting in Latest Attempt to Break Brexit Impasse

British Prime Minister Theresa May goes before European Union leaders Wednesday as the two sides faced stalled talks in the negotiations over Britain's exit from the bloc. Months of talks have produced agreements on many parts of how to unravel...

Stocks edge back into negative territory after Fed minutes

Stocks traded modestly lower Wednesday after the release of minutes from the Federal Reserve™s last policy meeting, but remained above session lows. The Dow Jones Industrial Average fell more than 300 points in early trading, before paring those...

POPULAR NEWS
Gold Rally Rolls On
Tuesday, 16 October 2018 04:14 WIB

On Friday we asked the question -- could the gold rally continue? The markets have spoken with a resounding yes. Gold traded as high as $1,237 this...

Pressure Set to Resume For Wall Street as Stock Futures Pitch Lower
Monday, 15 October 2018 16:53 WIB

U.S. stock futures indicated a lower start for Wall Street on Monday, as global stocks failed to join a rally that came late last week on the heels...

Gold ends at another multimonth high, but U.S. stock market rally limits the metal's rise
Wednesday, 17 October 2018 01:26 WIB

Gold futures edged up Tuesday to mark another finish at their highest since July, but a rally in the U.S. stock market limited the gains for the...

Gold Advance as Risks Proliferate From Stocks to Trade
Monday, 15 October 2018 15:47 WIB

Gold advanced as a stock slump resumed in Asia, President Donald Trump hinted at imposing more tariffs on China, and investors tracked tensions...