Thursday, 04 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Wednesday, 8 April 2020 09:04 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.

Brent crude (LCOc1) was up by 72 cents, or 2.3%, at $32.59 per barrel by 00:44 GMT after falling 3.6% on Tuesday. U.S. West Texas Intermediate (WTI) crude (CLc1) rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session.

Thursday's meeting between members of the Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia, is widely expected to be more successful than their gathering in early March. That ended in failure to extend cuts and a price war between Saudi Arabia and Russia amid slumping demand.

Source : Reuters

RELATED NEWS
Oil Hits Three-Month High Over Hopes For Output Cuts...
Wednesday, 3 June 2020 09:46 WIB

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0....

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns...
Wednesday, 3 June 2020 01:48 WIB

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. st...

Oil Futures Rise on Hope of Extension of Global Production Cuts...
Tuesday, 2 June 2020 18:54 WIB

Crude-oil futures on Tuesday headed higher, at least partly supported by reports that major producers may agree to extend output cuts that terminate at the end of June to further steady oil prices. R...

Oil Edges Higher With OPEC+ Decision on Output Cuts in Focus...
Tuesday, 2 June 2020 12:50 WIB

Oil edged higher toward $36 a barrel as the market waited to see if OPEC and its allies will extend record production curbs. Futures in New York rose around 1% after closing little changed Monday. Sa...

Oil Prices Hold Ground Ahead of OPEC+ Meeting on Extended Output Cuts...
Tuesday, 2 June 2020 09:01 WIB

Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week. B...

LATEST NEWS
Indigenous Australians Show Solidarity With US Protesters

As protests take place in the United States of America, indigenous families who have had bad experiences with law enforcement say police brutality is a serious problem in Australia. Aboriginal Australians make up about 3 percent of the total...

Wall Street rally gains steam, Dow up 400 points as data boosts hope of economic recovery

Stocks rose sharply on Wednesday on the back of better-than-expected economic data, which bolstered optimism over the recovery from coronavirus-led shutdowns. The Dow Jones Industrial Average jumped 426 points, or 1.7%. The S&P 500 gained 1.2%...

European stocks close over 2% higher as reopening optimism outweighs U.S. unrest

European stocks marched higher Wednesday as optimism over the reopening of major economies outweighed investor fears over widespread protests in the U.S. The pan-European Stoxx 600 closed up by more than 2% provisionally, with all sectors and...

POPULAR NEWS
Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB

Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...

Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal
Monday, 1 June 2020 09:15 WIB

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning...