Tuesday, 19 November 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Slips From Six-Week High on Signs U.S. Supplies Rose Again
Wednesday, 6 November 2019 18:18 WIB | COMMODITY |BrentWTIMinyak

Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied.

Futures lost as much as 0.8% in New York after rising 5.6% over the past three sessions. The American Petroleum Institute reported that crude stockpiles increased by 4.26 million barrels last week, according to people familiar, before official government data later on Wednesday. OPEC™s top official said on Tuesday that the market outlook for 2020 has improved, damping some speculation the group will deepen production cuts when it meets next month.

Oil gained earlier this week on optimism that trade tensions between the U.S. and China are easing, potentially alleviating downward pressure on the global economy and with it fuel demand. Yet prices remain about 15% below the peak reached in April amid concern that tepid consumption growth and record American shale-oil output will create a new surplus next year.

West Texas Intermediate for December delivery declined 25 cents to $56.98 a barrel on the New York Mercantile Exchange as of 10:31 a.m. in London. The contract rose 69 cents to $57.23 on Tuesday, the highest close since Sept. 24.

Brent for January settlement fell 37 cents, or 0.6%, to $62.59 a barrel on the London-based ICE Futures Europe Exchange. The contract rose 83 cents to $62.96 on Tuesday. The global benchmark traded at a $5.60 premium to WTI.

Source : Bloomberg

RELATED NEWS
Oil Heads for Weekly Loss on Signs of Adequate Global Supplies...
Friday, 15 November 2019 19:03 WIB

Oil headed for a weekly decline as rising U.S. crude inventories and new production elsewhere signaled that global markets will remain comfortably supplied. Futures slipped 0.5% in New York, bri...

Oil Rises on Signs of U.S. Supply Drop, OPEC Shale Outlook...
Thursday, 14 November 2019 18:49 WIB

Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a œsharp slowdown in American shale output next year. F...

Oil Falls Amid Uncertainty Over Trade War and OPEC Supply Cuts...
Friday, 8 November 2019 19:50 WIB

Oil fell as traders awaited more concrete signs that the U.S. and China are resolving their trade dispute, and amid concerns that OPEC and its partners won™t deepen output curbs to pr...

Oil Resumes Gains as Trade Tariff Rollback Counters OPEC Curbs...
Thursday, 7 November 2019 19:27 WIB

Oil jumped as China and the U.S. made progress in resolving the trade dispute that has weighed on global markets this year, offsetting signs that OPEC and its partners won™t make deeper cuts to...

Oil Gains After U.S., Chinese Data Improve Demand Outlook...
Monday, 4 November 2019 18:28 WIB

Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook and Saudi Aramco said it would go ahead with its long-awaited initial public offe...

LATEST NEWS
China stocks rise most in two weeks on fresh stimulus hopes

China stocks rose the most in two weeks on Tuesday, as a cut in a key interbank funding rate on Monday bolstered hopes for more government stimulus to prop up slowing growth. The blue-chip CSI300 index rose 1.0%, to 3,947.04, while the Shanghai...

Oil eases amid concern over U.S.-China trade talks dragging on

U.S. oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, while rising U.S. inventories also jangled nerves. West Texas Intermediate...

Tokyo stocks close lower with eyes on US-China trade row

Tokyo stocks lost ground on Tuesday as investors warily watched the latest developments in the US-China trade row, with few other fresh market-moving events. The benchmark Nikkei 225 index fell 0.53 percent, or 124.11 points, to close at...

POPULAR NEWS
Gold Edges Up On Chinese Worry Over Trump Impeachment
Tuesday, 19 November 2019 03:44 WIB

Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment...

Gold Slides as ETF Holdings Drop, Trade Talks Progress
Monday, 18 November 2019 16:00 WIB

Gold declines after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in...

Gold Steady With Trade Developments, ETFs in Focus
Monday, 18 November 2019 09:36 WIB

Gold was little changed after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a...

Hong Kong stocks start with gains
Monday, 18 November 2019 09:05 WIB

Hong Kong stocks opened higher Monday following another record-setting close on Wall Street, though traders remained on edge as the city was wracked...