Sunday, 20 October 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Rises After Drone Attack on Saudi Arabia Disrupts Gulf Calm
Monday, 19 August 2019 13:48 WIB | COMMODITY |MinyakWTIBrent

Oil rose for a second day after a drone attack on a Saudi Arabian oil field brought geopolitical risks back into focus, and as the prospect of more U.S.-China trade meetings spurred some investor optimism.

Futures in New York advanced 1.2% after climbing 0.7% on Friday to cap the first weekly gain in three. Yemeni rebels attacked oil and gas facilities at Shaybah field in the southeast part of the kingdom over the weekend, although there was only a small fire and no disruption to production, Saudi Aramco said in a statement. President Donald Trump said the U.S. is talking with China on trade but suggested he wasn™t ready to sign a deal yet.

Crude has fallen around 17% from a peak in late April as the U.S.-China trade war intensified, casting a pall over the global growth outlook. While a series of attacks on tankers and energy facilities in the Middle East have provided some temporary support to prices, oversupply remains the key concern for the market. Meanwhile, there are signs Saudi Arabia is struggling to muster support for its bid to convince OPEC and its allies to cut production further.

West Texas Intermediate crude for September delivery rose 64 cents, or 1.2%, to $55.51 a barrel on New York Mercantile Exchange as of 7:34 a.m. in London. The contract, which will expire on Tuesday, advanced 0.7% last week.

Brent for October settlement increased 79 cents, or 1.4%, to $59.43 per barrel on the ICE Futures Europe Exchange. The global benchmark is trading at a premium of $3.97 a barrel to WTI, near the smallest gap since March 2018.

Source : Bloomberg

RELATED NEWS
Oil Up as U.S. Fuels Drawdown Offsets Huge Crude Build...
Friday, 18 October 2019 03:45 WIB

Oil prices rose on Thursday as traders looked beyond a whopping jump in weekly U.S. crude inventories to focus on plummeting fuel stockpiles as the maintenance season for refineries caused an unusual ...

Oil Edges Higher In Yo-Yo Market...
Thursday, 17 October 2019 03:39 WIB

Down one day and up the next, oil™s yo-yo pattern continued Wednesday, with the market moving to any headline that remotely mattered in the absence of substantive developments on U.S.-China talks an...

Oil Declines as Investors Focus on Gloomy Economic Outlook...
Wednesday, 16 October 2019 03:40 WIB

Crude fell for a second day amid a weakening global growth outlook and abundant crude supplies in the world™s largest economy. Futures slid 1.5% in New York on Tuesday. Hopes for a resolution of ke...

Oil Edges Higher as U.S.-China Trade Talks Get Under Way...
Thursday, 10 October 2019 19:32 WIB

Oil futures edged higher in choppy price action Thursday as traders attempted to make sense of conflicting news reports around U.S.-China trade talks and parsed OPEC™s monthly assessment of global s...

Oil Set for Biggest Weekly Drop Since July on Demand Pessimism...
Friday, 4 October 2019 19:07 WIB

Oil headed for its biggest weekly decline since the middle of July as a streak of disappointing economic data added to fears a global recession is coming. Futures in New York edged higher Friday...

LATEST NEWS
Hong Kong, Shanghai stocks end with losses (Review)

Shares in Hong Kong and Shanghai sank on Friday after data showed China's economy growing at its slowest pace for almost 30 years. The Hang Seng Index fell 0.48 percent, or 128.91 points, to 26,719.58. The benchmark Shanghai Composite Index fell...

Dow Industrials End 1% Lower as Boeing, J&J Shares Exact More Than 220-Point

U.S. stocks finished near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion's share of the pain for the Dow industrials. The Dow closed off 255 points, or 0.9%, at 26,770. Dow components...

Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S....

POPULAR NEWS
Gold Edges Up as Geopolitics Take Control of Trade
Friday, 18 October 2019 03:38 WIB

Investors managed to push gold higher Thursday instead of completely embracing risk, as doubts remained about whether the U.K. will get parliament...

Gold steady as Brexit deal lifts stocks, pressures dollar
Friday, 18 October 2019 08:47 WIB

Gold prices held steady on Friday after Britain managed to eke out a deal for its exit from the European Union, lifting risk appetite, while a...

Gold Steady Ahead of Brexit Talks; Weak US Data Lends Support
Thursday, 17 October 2019 17:15 WIB

Gold prices were nearly steady on Thursday as traders refrained from making any big bets in the absence of fresh developments on the Sino-U.S. trade...

European stocks lower ahead of UK lawmakers' crucial Brexit deal vote; Autos down 2.3%
Friday, 18 October 2019 14:26 WIB

European stocks opened lower Friday morning as traders seek signals as to whether a Brexit deal agreed between the U.K. and EU will pass muster with...