Wednesday, 16 October 2019
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Oil edges higher on OPEC uncertainty, after logging 2019's sharpest weekly loss
Tuesday, 28 May 2019 18:43 WIB | ENERGY |Minyak jenis BrentMinyak WTI Berjangka

Oil futures tipped higher to kick off the holiday-shortened week Tuesday, as consolidation largely took hold after prices logged their worst weekly performance of the year and traders awaited an OPEC update in coming weeks.

West Texas Intermediate crude for July delivery on the New York Mercantile Exchange was up 44 cents, or 0.7%, at $59.08 a barrel. Front-month contract prices lost 6.8% last week, driven there especially by Thursday™s finish at $57.91, the lowest level in more than two months.

Early Tuesday, global benchmark July Brent added 15 cents, or 0.2%, at $70.25 a barrel. It shed 4.9% last week, also the weakest weekly performance for the contract this year.

Source: Marketwatch

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