Friday, 19 October 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Set for Weekly Loss on Flight From Risk as Stockpiles Grow
Friday, 12 October 2018 13:57 WIB | COMMODITY |MinyakWTIBrent

Oil is poised for the biggest weekly decline since May as the turmoil in U.S. equities spur investors to shun risk assets at a time when American crude inventories are rising.

Futures in New York were little changed, heading for a weekly drop of over 4 percent. The S&P 500 Index of equities is set for the worst week in more than six months on concerns over rising interest rates and the U.S.-China trade war. Everything from crude to zinc was hit by the sell-off, while gold -- a safe-haven -- surged the most in more than two years. Meanwhile, American crude stockpiles increased more than forecast, rising for a third week.

Oil has retreated almost 7 percent after reaching a four-year high earlier this month. Still, with impending U.S. sanctions on Iran set to cut the OPEC producer™s oil exports, traders continue to worry about whether the Organization of Petroleum Exporting Countries will be able to offset potential production losses.

West Texas Intermediate for November delivery was at $71.31 a barrel on the New York Mercantile Exchange at 12:35 p.m. in Seoul, up 34 cents. The contract fell $2.20 to $70.97 on Thursday. Prices are down 4.1 percent for the week. Total volume traded was about 26 percent below the 100-day average.

Brent for December settlement added 44 cents to $80.70 a barrel on the London-based ICE Futures Europe exchange. The contract declined $2.83 to $80.26 on Thursday. Prices are down 4.1 percent for the week. The global benchmark crude traded at a $9.50 premium to WTI for the same month.

Source : Bloomberg

RELATED NEWS
Oil Extends Decline On Rising U.S. Supplies...
Thursday, 18 October 2018 19:27 WIB

Harga minyak tetap di bawah tekanan pada Kamis ini, menyeret minyak acuan global di bawah $ 80 per barel dan memperpanjang penurunan sehari sebelumnya melihat minyak AS ditutup di bawah $ 70 per barel...

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 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
Gold Set for Longest Run of Weekly Gains Since January

Gold is heading for a third straight week of gains, the longest stretch since January, amid renewed interest in the precious metal as a safe haven. Volatility in equity markets and tensions in the Middle East have spurred demand for bullion,...

Shanghai Stocks Rally after Supporting Remarks

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai...

Euro Falls Towards Two-Month Low after EU Confronts Italy Over Budget

The euro fell towards a two-month low on Friday after the European Union criticized Italy's spending plans, raising fresh concern over conflict within the common currency zone. Political wrangling over the budget in heavily indebted Italy has seen...

POPULAR NEWS
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 settles lower, extends losses in electronic trade after FOMC minutes
Thursday, 18 October 2018 01:45 WIB

Gold futures settled lower on Wednesday and extended their decline into electronic trading as a benchmark U.S. dollar index climbed to fresh session...

Gold Extends Rally to Fresh Multi-Month Highs as Dollar Softens
Tuesday, 16 October 2018 19:43 WIB

Gold futures on Tuesday looked likely to extend a rally that has returned prices to July levels, with a generally upbeat tone in place even with...

Gold prices settle higher, finding support as U.S. equities decline even as the dollar gains
Friday, 19 October 2018 00:41 WIB

Gold prices settled higher Thursday, recouping most of what they lost a day earlier. A decline in the U.S. stock market helped boost investment...